""The competitive reality is that the Chinese are the 700-pound gorilla in the EV industry," he said."
""There's no real competition from Tesla, GM, or Ford with what we've seen from China. It is completely dominating the EV landscape globally and more and more outside of China," he added."
""There's hundreds of companies, and they're all sponsored by their local governments, so they have huge subsidies. It's new brands. It's BYD and Geely, and companies like Nio and Xiaomi, many of which have never been in the car business before, and that's a big advantage for them," he added."
China holds a dominant position in the global electric vehicle market, significantly outpacing major U.S. automakers. Chinese automakers benefit from large numbers of domestic companies, local-government sponsorships, and substantial subsidies that enable rapid growth and competitive pricing. Major Chinese names and new entrants such as BYD, Geely, Nio, and tech firms like Xiaomi and Huawei are integrating advanced in-vehicle digital systems that mirror users' digital lives. The combination of scale, low-cost innovation, strong government backing, and deep tech integration is driving Chinese EV expansion both domestically and increasingly into international markets.
Read at Business Insider
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