Chinese tycoons face bumpy road ahead on their EV bets

Chinese tycoons face bumpy road ahead on their EV bets

Giulia Marchi/Bloomberg

Some of China’s wealthiest tycoons steered billions of dollars into electric-car companies in order to fuel the country’s dreams of becoming a leader in the field. Now a reckoning may be looming as car sales slow and the government reduces subsidies for the nascent industry.

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