Why China Is Beating The U.S. In Electric Vehicles
The global electric vehicle market is heating up and China wants to dominate. The country has invested at least $60 billion to support the EV industry and it’s pushing an ambitious plan to transition to all electric or hybrid cars by 2035. Tesla entered the Chinese market in 2019 and has seen rapid growth.
China sold roughly one million more EVs than the U.S. in 2020. But there are signs the U.S. is getting more serious about going electric. President Joe Biden announced a goal to reach net-zero emissions by 2050 and investments in green infrastructure. Watch the video to find out how China came to dominate the market and whether it’s too late for the U.S. to catch up.