"The number of electric vehicle (EV) manufacturers in China has tripled over the last three years to reach 486. While EV sales in the country are expected to cross 1.5 million this year, start-ups alone have a cumulative capacity of 3.9 million vehicles. EVs account for around 4% of total sales and have a huge long-term potential in China. However, given the increased supply, some players could face the challenge of under-utilized assets in the short-term." – Aman Madhok