Replies to post #28326 on The Rising Influence of Rising Affluence

[DewDiligence]

Ha! Here's an excerpt:

To build the EV market, China bankrolled local manufacturers and subsidized sales, prodding the industry along with production targets and tighter emissions standards.

… Tax incentives and other inducements spurred demand. Buyers of electric vehicles could skip lengthy waits for license plates that were rationed in some cities, and circumvent rules that limited when gas-fueled cars could be used.

Beijing’s industrial policy carried a high price. Scott Kennedy, a researcher of China’s economic policies at the Washington-based Center for Strategic and International Studies, estimates China spent roughly 1.25 trillion yuan, equivalent to about $173 billion, to support the new energy vehicle sector between 2009 and 2022.