China's electric vehicle makers face an uncertain road ahead as the government prepares to back out completely from state support of the industry.
There are, arguably, parallels with the solar panel industry, which also endured subsidy cuts, leading to the first-ever Chinese US dollar bond default as well as the first onshore bond default half a decade ago.
For investors, that's a worrying comparison to draw, but there's no shortage of capital just yet for the best-backed Chinese EV manufacturers, given the success in January of New York-listed Nio's convertible bond issue and WM-Motor's latest round of private funding ...
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