China wants to build its own electric K-car industry to boost EV sales

China's auto industry is advocating for the establishment of a standardized budget electric vehicle category, inspired by Japan's K-car model, to stimulate domestic EV sales. This initiative aims to attract millions of new buyers, particularly targeting elderly consumers and rural areas where inexpensive electric vehicles have become prevalent but unregulated. The move seeks to revitalize the sluggish car market amidst growing concerns over safety and regulation.