There’s no doubt that electric vehicles (EVs) are the future. But the question is, who will win the EV race? Will it be Tesla, Nio, Rivian, Xpeng, BYD, Hyundai or perhaps Ford?
A few weeks ago, the Internet was abuzz after Elon Musk said that he expects Tesla’s main rival to be a Chinese player. Could that be BYD, Nio or Geely? While only time will tell which Chinese player will emerge champion, one thing is certain: we cannot underestimate China when it comes to the growing EV industry.
Image Source: S&P Global
After all, China’s plans were already underway more than a decade ago (while other countries were still debating over whether climate change was indeed a real threat), and the government began subsidizing EV sales as early as 2010 when the industry was still in its infancy. And in 2015, China issued its plan to build charging infrastructure and
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