Why does China have so many EV companies? #shorts #china

In 2008, Elon Musk launched Tesla's first electric car, the Tesla Roadster, sparking a global EV frenzy. The following year, Beijing made the EV industry its strategic priority toward technological dominance and started a national rush. By March 2019, over 600 EV companies claiming the capacity to manufacture an entire electric car have been registered. The world has been amazed at the growth in this new industry and assumed it's due to Chinese consumer demand.
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