Why China Is Beating The U. S. In Electric Vehicles
The global electric vehicle market is heating up and China wants to dominate. The countryhas invested at least 60 billionto support the EV industry and its pushing an ambitious plan totransition to all electric or hybrid cars by 2035. Tesla entered the Chinese market in 2019 and has seen rapid growth. China sold roughly one million more EVs than the U. S. in 2020. But there are signs the U. S. is getting more serious about going electric. President Joe Biden announced a goal to reach netzero emissions by 2050 andinvestments in green infrastructure. Watch the video to find out how China came to dominate the market and whether its too late for the U. S. to catch up. Subscribe to CNBC: Subscribe to CNBC TV: Subscribe to CNBC Classic: About CNBC: From Wall Street to Main Street to award winning original documentaries and Reality TV series, CNBC has
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