Asian hedge funds post double-digit gains on Tesla's 56% stock rally in Jan

Electric-car makers are battling uncertain demand in China, the world’s largest car market.

Prospects for China’s EV market have dimmed in recent months as the government has scaled back subsidies.

Thailand’s government sees EVs as a way to ease Bangkok’s air pollution and fortify an automotive industry generating about 12% of gross domestic product.

This year, Chinese EV makers have raised just $783.1 million as of mid-June.