China moves to destroy the US car industry

Beijing is coming for the United States electric vehicle industry.

In 2001, China identified electric vehicles as strategically important. EV technology was designated as a priority. Today, the EV industry is a centerpiece of China’s economic plan for the near future. China faces major pollution challenges and is dependent on imports of oil. The EV industry enables China to reduce both pollution and also imports of oil. And because of the implosion of the Chinese real estate market and the reticence of Chinese consumers to spend, China has decided to use exports to generate jobs and growth.