China spent $230.8 billion over more than a decade to develop its electric car industry, according to the Center for Strategic and International Studies.
The scale of government support represents 18.8% of total electric car sales between 2009 and 2023, said Scott Kennedy, trustee chair in Chinese Business and Economics at CSIS.
Workers assemble a Wuling Hongguang Mini EV, an all-electric microcar manufactured by SAIC-GM-Wuling, at a plant of the joint automaker in Qingdao in east Chinas Shandong province Tuesday, Nov. 30, 2021.The scale of government support represents 18.8% of total electric car sales between 2009 and 2023, said Scott Kennedy, trustee chair in Chinese Business and Economics at CSIS.
"There are some exceptions, but in general Western automakers and governments have dilly dallied and not been aggressive enough," he said. Kennedy had laid out seven policy initiatives in a report four years ago about potential trade tensions from Chinese electric cars.Government subsidies did not necessarily go straight into car development.
"Independent auto analysts and Western automakers with whom I've spoken all agree that Chinese EV makers and battery producers have made tremendous progress and must be taken seriously," Kennedy said.
Autos Nio Inc NIO Inc Market Insider Markets Stock Markets Technology Boyd Gaming Corp Tesla Inc Business News
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oral-B Sold a $230 Alexa Toothbrush—and Then Pulled the PlugA few years after touting the Oral-B Guide’s Alexa integration, the company has yanked the app you need to connect to it.
Read more »
Best Buy just discounted this ASUS laptop from $430 to $230The Asus Vivobook 14 is an affordable laptop that's currently even cheaper from Best Buy following a $200 discount. It's down to $230, from $430 originally.
Read more »
US humanitarian aid pier off Gaza to become inoperable for 3rd time in a monthRepublicans are questioning the $230 million project involving 1,000 troops.
Read more »
Crisis center, family suites: 7 ways a new Utah center will help with kids’ mental healthIntermountain Primary Children’s Hospital is opening a first-of-its-kind behavioral health center in Taylorsville that will offer specialized mental health treatment and neurodivergent care for children of all ages.
Read more »
SJ Regional Medical Center staff raise concerns over upcoming trauma center closureDozens of doctors and nurses at Regional Medical Center in East San Jose say lives are at risk as the closure of the hospital's trauma center looms.
Read more »
Renck: Broncos center Alex Forsyth honors his father’s legacy as he pursues starting center jobFormer Oregon standout Alex Forsyth has turned tragedy into triumph with his work on and off the football field
Read more »