China's electric car market has more than 400 competitors - The Washington Post - 0 views
-
SHANGHAI — As Tesla inaugurates a $2 billion electric-car factory in China this month, a brief stroll around an upscale shopping district here shows the company already has plenty of local competition.
-
For all the success China has had conquering other industries, it never really mastered the art of manufacturing cars with internal-combustion engines. Foreign brands have dominated since the 1990s, when General Motors, Ford, Volkswagen and others began ramping up sales, turning China into the world’s largest auto buyer.
-
The Chinese government has spent at least $60 billion to support the fledgling electric-car industry, including research-and-development funding, tax exemptions and financing for battery-charging stations, according to the Center for Strategic and International Studies, a Washington think tank. That’s encouraged a whopping 400-plus Chinese companies to get into the electric-car business, CSIS said.
- ...3 more annotations...
-
For now foreign car companies continue to see gold in China and are boosting local production of their own electric vehicles.
-
Consumer demand remains uncertain. On a recent afternoon, several drivers at a battery-charging station in an underground parking lot were lukewarm about their Chinese-brand electric vehicles.