Most folks will find this question shocking. In the current climate, China is the bogeyman, threatening the stability of the global economy. But a closer look at industries such as the electric vehicle (EV) industry reveals a different picture. In China, EV companies are engaged in a cutthroat competition rivaling that in any country.
Elon Musk’s Tesla is on the cutting edge in the highly competitive market for EVs. Other companies, including Chinese EV producers, are playing catchup in competing with Tesla. However, China has emerged as the leader in producing low-cost EVs and is expanding production of high-end EVs as well. Elon Musk’s most recent venture is producing low-cost EVs to compete with the Chinese. He has received approval from the Chinese to produce these vehicles in China. That decision was crucial because success depends upon producing low-cost EVs in China and…
