China’s economic future is going to be driven by the EV
More and more articles (Wired, MIT Tech Review, The Washington Post, etc.) discuss how China’s car industry has outdriven countries such as Germany, the United States or Japan in all matters EV, filling the segments Tesla left vacant, and speeding ahead to become the world’s leading power in the technology that represents the only viable future for the automotive industry.
Fueled by the success of its EVs, China is already the world’s largest exporter of automobiles, overtaking Japan, which has been held back by Toyota’s narrow-minded stupidity. If we look only at EVs, the US automotive industry is falling behind China and Europe, hit by strikes and finding it harder than ever to turn a profit.
China’s growing dominance is so worrying that it is being debated in the US Congress, while the European Union is trying to protect itself from the flooding of its markets by investigating possible Chinese government subsidies to its companies — most likely true — and considering tariffs.