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Today, China has the ability to make almost double cars from its need. China has invested heavily in the development of electric cars.
New Delhi. Just 2 decades ago, China had very little capacity to build a car and it was considered a big thing to be the owner of the car. Today, China makes and exports the most cars in the world. Many countries already impose extra tariffs on China’s electric vehicles. But China’s reign remains in automaking.
China’s domestic car market is the largest in the world. Almost as big as the markets of America and Europe are. As the domestic market of China increased, it also increased its production capacity. This was due to world-level progress in large government investment and automation. However, in recent years, consumer spending has decreased due to China’s economic slowdown and the pace of sales has slowed down.
Double cars’ ability to make
Today, China has the ability to make almost double cars from its need. To deal with this access production, China has focused on selling cars abroad. According to an ET news, China is a leader in the transition of electric vehicles and exports more electric cars than any other country. Chinese brands such as byd advanced electric cars are famous worldwide to introduce the most competitive prices. As Chinese companies have moved towards electric vehicles rapidly, there has been a decline in demand for gasoline-powered cars in China and many cars are being exported.
But the trading partner of China says that the export of cars running from China’s electric and gasoline threatens millions of jobs and is affecting major companies. China has used high tariffs and other taxes on car imports as a barrier, so that almost all cars sold in China are made in China.
Heavy investment in electric cars
China has invested heavy in the development of electric cars for more than 15 years to limit its dependence on imported oil. Ven Jiabao, who was the Prime Minister of China from 2003 to 2013, made electric cars one of their highest priorities. In 2007, he went out of the Communist Party and elected Van Gang, former Audi engineer in Germany and the Minister of Science and Technology, Born in Shanghai. Wayne gave him almost unlimited resources to make China a world leader in electric cars. Now half of China’s car buyers choose battery electric or plug-in hybrid cars. Till recently, buyers of electric cars used to get large subsidies from the government. Car manufacturers have received loans with low interest rates for the manufacture of dozens of factories from public sector banks, as well as tax exemption, cheap land and electricity from the government.
