The Real Story Behind China's EV Rise
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How did China build a world-leading EV industry? China didn't just pick winners. Local governments and private entrepreneurs played a critical role alongside a broader national push into batteries and electric vehicle technology.
In this episode, I talk with Fengming Lu, an assistant professor at Australian National University, about China's decades-long effort to build a world-class auto industry, its pivot to EVs, and what lessons other countries might learn.
We discuss:
• How Chinese local governments act like VC investors
• What China learned from foreign automakers like GM, Volkswagen
• The rise of upstarts like Geely, Chery, and BYD
• What caused a wave of Chinese EV startups like NIO, Xpeng, Li Auto
• The "Hefei model"
Links:
• The Rise of China’s Electric Vehicle Industry: Strategic Alliances Between Local Governments and Private Capital
• Fengming's personal website
• Fengming on Twitter / X
For transcripts and more information, check out the High Capacity newsletter.
Follow host Kyle Chan on Twitter / X