China's EV Startups Defy Funding Slump With $6 Billion of Deals

(Bloomberg) —China’s electric vehicle startups are defying the venture capital winter.

While the country is leading a global contraction in VC investment, its auto sector has taken the top spot for funding so far this year, with more than 147 deals amounting to $5.95 billion, according to data from research firm Preqin.

Much of that has been from capital flowing into EVs, with batteries and semiconductors — two other high-growth sectors in the new-energy vehicle chain — in fourth and fifth place.