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 US$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. All three have logged more deals than last year, while fundraising for once-hot industries like internet businesses, education, and real estate have fallen off a cliff.