German electric car association files for bankruptcy

Germany's Electric Vehicle Association (BEM) has filed for bankruptcy, marking the plight of the country's electric vehicle industry. BEM represents 450 companies worldwide, including automakers such as Mitsubishi and Kia, as well as many medium-sized companies. However, the development of Germany's electric vehicle market lags behind Chinese competitors, and the government's cancellation of car purchase subsidies has caused market turmoil.