China's Rise in Electric Vehicle Market

China has become a dominant force in the global electric vehicle market, with annual sales growing from 1.3 million to 6.8 million in just two years. This growth has been facilitated by proactive government subsidies, Chinese companies' ability to create affordable and user-friendly electric vehicle models, and a positive response from Chinese consumers. China's early investment in electric vehicles and strategic choices, including focusing on indigenous innovation and attracting foreign companies like Tesla, have contributed to its success in this sector.