Reported about 1 year ago
China's rise in the electric vehicle market, driven by subsidies and the entry of Tesla, holds valuable lessons for success in industrial policy. China's approach of fostering competition and innovation, rather than protectionism, has led to the rapid growth of domestic EV makers. The country's aggressive policies are now being emulated by Western governments, but the key to China's success lies in allowing market forces to drive growth while supporting the overall new-energy vehicle sector. China's EV industry is characterized by fierce price wars and intense competition, positioning it as a global leader in electric vehicles.
Source: YAHOO