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Startups

Price war wipes out half of China's EV battery makers

Automakers turn in-house, while Japan and South Korean rivals rise

The number of EV battery makers in China halved by June 2019, down from 200 three years ago.   © Reuters

BEIJING -- China's electric-vehicle battery industry slowed in 2019 as the country's automakers remain mired in the doldrums.

The industry has been realigning since the beginning of last year, with smaller players gradually being edged out. This comes against a backdrop of heavy borrowing throughout the auto industry supply chain as EV sales stall and suppliers suffer delays in collecting on deliveries.

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