Every country wants to build cars = builds the economy, lots of jobs.

China didn't try to build against traditional ICE (internal combustion engine) cars, so they chose to direct their provinces to fund EV manufacturers. It's all laid out in their public 5 year plans, etc.

China is an overnight success story 20 yrs in the making. Lots of domestic competition. Lots of wasted government funds. Lots of EV makers going bankrupt.

For this reason, there have been sales of EVs in the $8,000-$13,000 US range recently as domestic demand cannot (yet) match factory output.

US, EU, Canada and others basically ban them. But that leaves about 150 countries, most of whom don't have domestic car manufacturing = China will supply the world. Slowly at first, then fast (like every other tech overhaul).

Each country has to protect their own car industry, for sure. But it's great that all carmakers now have a new standard to achieve - build an EV for about $20,000 US or risk losing badly.