A new analysis by the Center for Strategic and International Studies has revealed the Chinese government has spent a staggering $230.8 billion to help support electric vehicle firms between 2009 and 2023. That’s a massive number and it dwarfs the $1 billion that the US government has provided in upfront clean vehicle tax credits this year.
Unsurprisingly, most of the spending is relatively recent. The think tank estimates that only $6.74 billion was spent between 2009 and 2017. However, that number “roughly tripled during 2018-2020, and then has risen again sharply since 2021.”

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Want To Know Why The Chinese Are Ahead Of Everyone Else With EVs? We Can Give You 230 BILLION Reasons Why

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