News Snapshot:
China has "too many" electric vehicle (EV) makers and the government will encourage consolidation, Industry and Information Technology Minister Xiao Yaqing said on Monday. The minister also said China would improve its charging network and develop EV sales in rural markets. The government's promotion of greener vehicles to cut pollution has prompted electric car makers such as Nio , XPeng and BYD to expand manufacturing capacity in China. Chinese Tech, EV Stocks Fall on Regulatory Fears; Property Developer Soho China Drops 35% on Failed
