China’s Electrical Vehicle Market Ambitions
US President Biden recently made a bold statement regarding China’s ambitions to dominate the electrical vehicle market. He made it clear that he won’t allow such dominance to happen under his watch.
Preventing China’s Dominance
With China’s rapid advancements in the EV industry, President Biden understands the implications it could have on the US economy and national security. He highlighted the need for the US to step up its efforts and stay competitive in this rapidly growing sector.
Biden’s administration has plans to invest heavily in research and development, incentivize domestic production, and form strategic partnerships to ensure the US remains a leader in the electric vehicle market.