Producing electric vehicles is a profitable business for Chinese automakers

According to the China Association of Automobile Manufacturers, in the first eight months of 2015 118,020 new energy vehicles were produced in China, a 2.6-fold increase related to the same period in 2014. Sales rose 2.7-fold to 108,654 units. NEVs refers to battery-electric (BEV), plug-in hybrid electric (PHEV), and hydrogen fuel cell vehicles. But no one is producing…