Recharging China’s electric-vehicle aspirations

McKinsey says:

China understands that embracing electric vehicles could help it not only to manage its energy dependency and environmental challenges but also to build a car industry that could leapfrog its global competitors in this emerging sector. But progress toward that goal has been disappointing, and the country needs a new strategy, McKinsey research finds. Automakers have produced only a fraction of the vehicles once expected. Ownership has fallen far short of projections, and the needed infrastructure has failed to materialize. Notwithstanding massive investment in battery R&D by automakers and suppliers, few vendors are qualified to provide batteries to the industry.

Read more: https://www.mckinseyquarterly.com/China/Recharging_Chinas_electric-vehicle_aspirations_2998