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China has made remarkable strides in electric vehicles (EVs), becoming a global leader in the production of EVs and batteries. In recent years, the nation has established itself as a significant player, supplying essential components to international firms like Tesla. The move toward electrification appeared to be a strategic masterstroke, with numerous new brands emerging to capture a piece of the monumental projected growth in the automotive sector.
However, this aggressive expansion aligned with a growing reliance on state support, which has raised eyebrows in Western markets.