How China’s EV Boom Caught Western Car Companies Asleep at the Wheel

Produced by Shanghai-based automotive journalist Mark Rainford, a former communications executive for Mercedes-Benz, the channel is one of several by China-based Western commentators agog at what they are seeing—and driving. The channels tell salivating viewers that the tech-heavy yet keenly priced Chinese electric vehicles that have appeared on China's domestic market since the end of the global pandemic will soon wipe the floor with their Western counterparts.

When you lose your automotive industry, you lose engineering expertise, specialist education, and science-based capability. Governments worldwide should support their auto industries because it’s fundamental to any country’s GDP and future wealth base.” By failing to back its auto industry with sufficient subsidies and other support, the UK government “has been asleep at the wheel,” says Palmer.

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Source: CNBC - 🏆 12. / 72 Read more »