This New York Times piece examines the lengths to which China will go to capture electric vehicle market share.
Losing money on the cars they produce and sell isn’t a radically new concept for automotive manufacturers. But inin China are able to stay in business despite losing money. The main reason? Robust government subsidies that allow the manufacturers to not only survive, but thrive.
One new development—one that has likely in part prompted the Times’ story—is an investigation by the European Union into the way that electric car manufacturers in China have received such subsidies, a step that could lead Europe to impose tariffs on the EVs that the country exports.as one focus of his story, explaining that Neo employs 11,000 people in research and development, but sells only 8,000 cars per month.
Speaking of bedfellows, the Times piece weaves in an intriguing notion tying together smartphones and automobiles. “Selling smartphones and electric cars together has long been the dream of the electric car and smartphone industries,” the report suggests. The cellphones, which work closely with a car’s self-driving functions, “can be replaced much more frequently as technology improves than semiconductors in cars, which must pass lengthy safety reviews.
A detailed read of the story, titled “China’s EV Threat: A Carmaker That Loses $35,000 a Car,” can be found here. A subscription may be required for access.
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