Tuesday, February 21, 2023

MIT: How did China come to dominate the world of electric cars? Really!

Dominate the world???? 

A communist command and control economy can order and implement changes to the structure and production of the economy at any time whether or not its citizens or businesses like it or not.

The EU with their totalitarian ban on fossil fuel powered cars is not far behind the Communist Party of China!

Of course, China has a keen interest to reduce its dependence on foreign fossil fuels!

I am not sure why the MIT Technology Review is so thrilled about this rather disturbing development! The article does not even mention the Communist Party of China.

"Before most people could realize the extent of what was happening, China became a world leader in making and buying EVs. And the momentum hasn’t slowed: In just the past two years, the number of EVs sold annually in the country grew from 1.3 million to a whopping 6.8 million, making 2022 the eighth consecutive year in which China was the world’s largest market for EVs. For comparison, the US only sold about 800,000 EVs in 2022. ...
Several experts tell MIT Technology Review that the government has long played an important role—propping up both the supply of EVs and the demand for them. As a result of generous government subsidies, tax breaks, procurement contracts, and other policy incentives, a slew of homegrown EV brands have emerged and continued to optimize new technologies so they can meet the real-life needs of Chinese consumers. ..."

How did China come to dominate the world of electric cars? | MIT Technology Review From generous government subsidies to support for lithium batteries, here are the keys to understanding how China managed to build a world-leading industry in electric vehicles.

No comments: