According to Bloomberg, China is diligently working in reducing pollution in its country and is doing so quite aggressively already particle counts are lower now than they were in 2015. But the real goal may be for China to become the dominant leader in the electric-vehicle industry. China already sells more EVs than Tesla.
The government’s war on air pollution fits neatly with another goal: domination of the global electric-vehicle industry. Elon Musk’s Tesla Inc. might be the best-known name, but China has been the global leader in EV sales since 2015, and is aiming for 7 million annual sales by 2025.
To get there, it’s subsidizing manufacturers and tightening regulation around traditional fossil-fuel powered cars. Beneficiaries include BYD Co., a Warren Buffett-backed carmaker that soared 67 percent last year and sold more cars than Tesla. Goldman Sachs Group Inc. has a buy rating on shares of Geely Automobile Holdings Ltd.
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