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Pedal to the floor

10 May 2017 By Robyn Mak

Beijing wants to quadruple annual sales of “new energy” cars to 2 mln by 2020, but is scaling back subsidies. Manufacturers will thus have to boost sales and slash costs. Big companies like BYD, backed by Warren Buffett, can ride out the crunch. Smaller outfits may be less lucky.

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