Caixin
Nov 21, 2018 08:12 PM
BUSINESS & TECH

China’s Government Drove the Electric Vehicle Industry’s Rapid Rise, U.S. Think Tank Says

A JAC new-energy vehicle sits on display at an auto show in southern China on Oct. 26. Photo: VCG
A JAC new-energy vehicle sits on display at an auto show in southern China on Oct. 26. Photo: VCG

* Central government spent 393 billion yuan ($56.6 billion) from 2009-17 to promote the development of new-energy vehicles, according to the Center for Strategic and International Studies

* Though Beijing has helped spearhead market development on the supply side and given birth to around 500 electric-car makers, real consumer demand has yet to fully emerge, analysts said

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