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In Shenzhen, in almost every residential building there are two charging units.

One out of 10 cars on the street are Teslas," she says. "In China if the policy leads in one direction, technology and money goes in that direction too.

The vast majority [of electric car makers] will not survive. But how long they survive and whether industry consolidation occurs through lots of mergers or bankruptcies will depend on the willingness of the government.

"Chinese auto and battery technology is still not world-class. CATL and BYD are strong battery makers, but they are still somewhat behind technologically from their South Korean and Japanese counterparts. And Chinese automakers are still second-class producers even in their own country and they have barely any sales outside China


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