BEIJING/GUANGZHOU -- The Chinese government plans to tap all the policy resources available to create a made-in-China electric vehicle supply chain, pressing three state-owned automakers to spend more on research and development.
Electric cars in China
China vows to pull out all the stops for EV supply chain buildup
Beijing to order 3 state-backed automakers to step up R&D spending
The penetration of new energy vehicles in China could exceed 50% within the next three months, according to BYD Chairman Wang Chuanfu. © Reuters
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