Anderson Cohelo/ReutersConcern is growing about the health of China’s electric-vehicle sector, as a years-long price war threatens to hammer the industry. Companies across the country’s EV supply chain are grappling with the fallout, with a Financial Times analysis showing that for a third of publicly listed carmakers, liabilities exceed assets, putting pressure on their ability to pay suppliers. Analysts have long predicted China’s EV industry is due a wave of consolidation, but the consequences could be far costlier, some fear: The chairman of Great Wall Motor compared the sector to the country’s disastrous property market, implying parallels between its iconic, collapsed market leader, Evergrande, and the dominant EV maker, BYD. |