China’s EV subsidies declining as industry matures: Report
According to analysis by the Center for Strategic and International Studies, China has invested $230.8 billion over more than a decade to develop its electric car industry, accounting for 18.8% of total electric car sales from 2009 to 2023. Scott Kennedy highlighted that government spending relative to EV sales has decreased significantly, from over 40% 2017 to just above 11% in 2023.