The rise of inexpensive Chinese electric vehicles has upped the pressure on legacy automakers who have turned to suppliers, from battery materials makers to chipmakers, to squeeze out costs and develop affordable EVs quicker than previously planned.
  • cyd@lemmy.worldEnglish
    546·
    1 year ago

    China is using subsidies to accelerate the green transition, exactly like the US is doing with the “Inflation Reduction Act” and other initiatives.

    • assassin_aragorn@lemmy.worldEnglish
      4·
      1 year ago

      And just like China with cars, the IRA spurred other European countries to pass similar legislation to remain competitive.