American EV makers are reluctant to compete with Chinese companies because “they’re not ready,” Stella Li, chief executive of BYD Americas, told NBC News in an exclusive interview.
Yeah, this is the Chinese government’s go-to plan at this point: fund copycat industries, subsidize the crap out of them, and use those subsidies until there’s a global monopoly share and a field of dead competitors that couldn’t match the subsidies.
Cell phones, major appliance manufacturing, solar panels… If we didn’t learn the lesson before EVs, that’s on us.
That said, not a lot of sympathy for the US auto companies’ complacency. They’ve known EVs were the future for years, and there’s no reason we shouldn’t have options at every price point.
Yeah, this is the Chinese government’s go-to plan at this point: fund copycat industries, subsidize the crap out of them, and use those subsidies until there’s a global monopoly share and a field of dead competitors that couldn’t match the subsidies.
Cell phones, major appliance manufacturing, solar panels… If we didn’t learn the lesson before EVs, that’s on us.
That said, not a lot of sympathy for the US auto companies’ complacency. They’ve known EVs were the future for years, and there’s no reason we shouldn’t have options at every price point.