Agencies China has vowed to consolidate the country’s electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players, some of which are barely viable. “Looking forward, EV companies should grow bigger and stronger. We have too many EV firms on the market right now,” Xiao Yaqing, China’s Minister for Industry and Information Technology, said at a press conference in Beijing on Monday. “The firms are mostly small and scattered,” he said. “The role of the market should be fully utilised and we encourage merger and restructuring efforts in the EV sector to...