China dominates the electric vehicle industry, with its brands responsible for about two-thirds of global sales in 2024, although none of those sales were in the U.S.
China loves electric cars: making them, driving them and selling them to the rest of the world.
Electric vehicles have been widely adopted in China, thanks in part to years of now-defunct government subsidies and a fast-growing network of charging stations. According to the International Energy Agency, almost half of the cars sold in China in 2024 were electric, compared with about 1 in 10 in the U.S.
But despite growing global interest in the innovative sector, Chinese electric cars remain out of reach for consumers in the world’s second-largest auto market, the United States.
I’m so confused. I thought the foundation of Capitalism was free market pressure. Doesn’t restricting what people can buy and where from kind of undermine the entire ideal?
The foundation of capitalism is Profit is King.
The free market, aka competition, is the least profitable method of production for a company. It’s terrible for your bottom line. Profit is the only thing that matters, and specifically Profit by the Metric evaluated by those with the purse-strings; i.e. in the US this is profit per quarter.
‘Free Market’ economics is not only not limited to capitalism, capitalism is inherently antithetical to competition and the free market and will always seek to eliminate it entirely.
Exactly.
Yes. Absolutely.