Something of a contrast with the UK experience.
China had a very clear EV strategy providing a range of incentives to manufacturers. China now produces 30% of global car volumes.
They clearly overdid the incentives. The end result is, unsurprisingly, a market with huge overcapacity - discounts, large stocks, likely business failures. They may even consider this a price worth paying for global market dominance in the future.
The UK by contrast has lost most car manufacturing leaving only a few foreign owned companies doing mostly assembly work. The UK is world class in creating barriers (eg: planning, nimbys, delays etc) to efficient investment in facilities which could compete.
We left the EU so we are no longer seen as the natural European manufacturing hub despite our manufacturing heritage.
My guess - in 10 years time China will be globally dominant car manufacturers with an industry which by then largely aligns with market demand. The UK will still be doing screwdriver jobs for foreign owned companies.
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