, Columnist
Apple Should Have Learned a Chinese Lesson on EVs
Almost overnight, phone companies have become major car-making players in China, feeding into a booming industry.
Apple could take a leaf out of Xiaomi’s book.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
High-tech manufacturing in China over the past year has often felt like watching a looking-glass parody of the US.
In America, electric vehicles have been in retreat all year. General Motors Co. and Ford Motor Co. have scaled back expansion plans and cut jobs amid flagging demand for battery cars. Analyst expectations for Tesla Inc.’s fiscal 2024 net income are barely a third of what they were two years ago. Even Apple Inc. junked its 10-year, multi-billion secretive project to build a revolutionary EV.