How China’s EV Revolution is Transforming the Global Auto Market
China’s electric vehicle revolution is changing the global auto industry faster than anyone expected. In just a few years, the country has grown from being seen as a follower to becoming the biggest player in the electric car market. This rise has been supported by government help, strong investment, and a powerful supply chain, making Chinese companies serious competitors to well-known automakers in the U.S., Europe, Japan, and Korea. A big part of this success comes from subsidies, tax breaks, and massive funding. Between 2009 and 2023, China spent more than $230 billion on developing the EV industry. On top…