Hyperdrive
Xi’s China EV Dream Came True. 10 Years On, Walls Are Going Up
- A landmark speech in 2014 set China on path to EV domination
- Now nation’s strength is source of pain for the US, Europe
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Ten years ago almost to the day, while checking out a handful of luxury sedans from one of China’s largest automakers SAIC Motor Corp., President Xi Jinping gave a pivotal speech that would set China on the course to dominate the electric vehicle industry.
The path to becoming a strong automaking nation lies in developing new-energy vehicles, Xi said, according to a 2014 Xinhua report. Claiming a head start, or “high ground,” in this sector is key to the competition globally, Xi said.