Is China the car production capital of the world? The case for EV looks strong
Over the recent weeks, there are much news about new vehicle production plants in China, mainly Electric Vehicles (EV). China seems to be attracting the biggest investments to build cars, especially EV in the coming years. While there are more "players" in the EV industry, the competition will only be good for sustainability and the consumer. With an annual car sales of approximately 78 million (as of 2020). With the global car market expected to grow to about USD$9 trillion by 2030, China looks to benefit significantly with news of such investments. It is no surprise as the China auto market is the single biggest market in the world. There are no better test beds with the sheer population size of 1.3 billion. With China poised to take over USA as the #1 global economy within the next 15 years, such investments are strategic and simply logical. While Tesla has an unquestionable lead, there will be competition in this important industry. More imp...