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How China Came To Dominate The Electric Vehicle Market, And What The U.S. Can Do To Catch Up

24 Sep 2024 | Abstracted from CBS News

"Beijing threw its economic might behind EV development, similar to the centrally controlled industrial policy that powered the rise of Japan's auto sector...the Chinese government doled out $231 billion in subsidies from 2009 to 2023...new electric car registrations in China reached 8.1 million in 2023, a 35% increase from 2022....Washington has set a 'great tempo' so far setting mandates and incentives to achieve these goals...it's too soon to count America out, which has the means and the technical expertise..."

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