Chinese EV makers recover in May but competition remains fierce amid overcapacity woes
Sales of electric vehicles (EVs) in China recovered on solid footing in May, as new models fitted with higher-performance batteries and more advanced driver assistance systems drew consumers amid intensified competition. Zeekr, a premium EV brand owned by Geely Auto, the countryโs second-largest carmaker, and Stellantis-backed Leapmotor rewrote their monthly delivery records, the latest sign that local government subsidies have whetted consumersโ buying appetite for big-ticket items. Although...