Chinese companies are taking over the EV market. What’s behind their meteoric rise?

SYDNEY: (Jul 22) If producing electric vehicles (EVs) was an Olympic sport, China would be dominating the medals podium.

China now leads the world in the sale and export of EVs, a term encompassing everything from battery-powered cars to plug-in hybrids. Chinese companies also produce the lion’s share of the rechargeable batteries that keep EVs running.

Between 2009 and 2022, the Chinese government dished out more than A$41 billion in subsidies and tax benefits to boost the production of electric cars, taxis and buses.

Source: PTI News

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