A quick scan of global news this week revealed almost universally glowing reports about China’s electric vehicle (EV) industry. A Wall Street Journal article calling it a “triumph of Beijing’s industrial policy” was just one of several articles touting China’s lead in the electrification of the auto industry.
Despite the rosy headlines, however, experts say that China’s “new energy vehicle” industry, which has been funded with hundreds of billions of yuan in state subsidies, in reality, is on shaky ground.
