Two months ago, the head of Chinese electric vehicle start-up Xpeng was feeling upbeat about China’s progress in switching away from fuel-burning cars.
Tesla had given a fillip to Chinese consumer enthusiasm for electric vehicles with the launch of production in Shanghai, and a rollback of government subsidies had thinned competition by pushing out some of the weaker players, said He Xiaopeng, Xpeng’s chairman. At his headquarters in Guangzhou, he told the Financial Times that 2021 would be a “turning point” for battery-powered vehicles going mainstream.
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