This is a China news story, published by Asia Times, that relates primarily to EV news.
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economic valueAsia Times
•57% Informative
A common narrative bandied about by the Western business press is that China ’s subsidized industries destroy value because they are not profitable from residential property to high-speed rail to electric vehicles to solar panels.
To celebrate Tesla 's US$788 billion market cap in comparison to BYD 's $93 billion is to confuse incentives with outcomes.
China has spent $231 billion on EV subsidies, creating $5 to $10 trillion in value for its consumers.
Value is not being destroyed; it’s accruing to consumers as lower prices, higher quality and/or more innovative products and services.
CSIS report estimated that China spent $ 578 per car when spread over all ~400 million cars (both EV and ICE ) on the roads.
Hefei has been hosting symposiums for processions of municipalities hoping some of the city’s magic rubs off.
While quantum computing, AI and robotics may be sexy, the formula is not much different from the macro China model.
It is just what the China model looks like when pushed against the technological frontier.
VR Score
59
Informative language
59
Neutral language
16
Article tone
semi-formal
Language
English
Language complexity
56
Offensive language
possibly offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
detected
Time-value
medium-lived
External references
no external sources
Source diversity
no sources
Affiliate links
no affiliate links