Photo Credit:China.gov

China Invested More Than $230B Over Last Decade To Develop Its EV Industry, Study Finds

23 Jun 2024 | Abstracted from Benzinga

" The Chinese government's financial backing accounts for nearly 19% of the total electric car sales from 2009 to 2023, as per the findings by the Center for Strategic and International Studies. This represents a significant decline from over 40% in the years leading up to 2017 to just above 11% in 2023.

"U.S. has also been ramping up its efforts to support its own electric car industry [to the tune of $370 billion].

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