Chinaโs EV industry faces double blow from EU export quota, VAT rebate cut
Chinaโs electric vehicle (EV) makers have been hit with a double blow as both Beijing and Brussels introduce measures that will affect their exports, leading analysts to revise down their earnings forecasts for the industry. The twin measures โ combined with a sales decline in Chinaโs domestic market โ could create a โdo-or-die momentโ for some of the countryโs 50-odd EV makers, ramping up financial pressure on the companies, according to industry officials. On Friday, China and the European...