China's Drive to Become the Detroit of Electric Cars

China’s automakers are hardly household names in Europe or the U.S., but industry watchers are speculating that may change. The reason: China’s government is putting its might behind establishing the country at the forefront of new-energy vehicles. Already, Chinese drivers buy more new cars -- and more electric vehicles -- than anywhere else. With the major automakers all preparing for an electric future, there’ll be no shortage of competition, including within China -- as underlined by the purchase of a stake in Daimler AG by a Chinese car billionaire.

If you live outside China, you will struggle to find one. But this is a business in its infancy, with technological advances -- spurred by gigantic research budgets -- likely to translate in the next decade into cheaper and more appealing cars with longer driving ranges. Expect more Chinese electric vehicles to appear in a showroom near you within the next few years.