News Snapshot:
[Automobile] China Says It Has ‘Too Many’ EV Companies The last two decades have seen China rapidly become a major player in the automotive market. However, when it comes to electric vehicles, it appears the government may be concerned at the level of competition within the country. Industry and Information Technology Minister Xiao Yaqing stated there are “too many” companies building EVs in China, and that the government will aim to guide the industry to consolidate in future, [reports CNBC](//www.cnbc.com/2021/09/13/china-has-too-many-auto-companies-now-consolidation-needed-minister.html) . It’s a state of affairs assisted in some ways by the Chinese government’s own policies. [As reported by Fortune](//fortune.com/2021/09/13/china-electric-vehicle-ev-market-consolidation-byd-nio-xpeng/)...
