The U.S. blinked, and China built an electric vehicle empire.'They're taking over the world, except North America,' said Lei Xing, a Chinese auto industry expert. 'The U.S. will be the last frontier.'In the last 15 years, China has rolled out a public charging network over 10 million strong, convinced billions of drivers to go electric by dangling subsidies and other incentives, and introduced over 100 EV brands with a bevy of pricing options.
The country also offered an exemption from the 10% sales tax to defray car costs, which is slated to phase out in 2027. In total, the Chinese government doled out $231 billion in subsidies from 2009 to 2023 according to a report from the Center for Strategic and International Studies.This 'carrot' approach to drive consumption proved highly effective. According to the International Energy Agency, new electric car registrations in China reached 8.