How China’s electric car boom created a yawning fiscal black hole (opens in new tab)

China’s rapid transition to electric vehicles (EVs) has been widely hailed as an economic success story. But it is also creating a serious headache for the country’s local governments, which are tasked with maintaining one of the world’s largest road networks. Chinese drivers have gone electric in massive numbers in recent years, with new-energy vehicles accounting for more than 60 per cent of new car sales last month, according to data from the China Passenger Car Association. But the pivot ...