The Competition for Electric Vehicles Heats Up

Electric vehicle ownership is on the rise. The trend was already underway in the 2020s, but the energy crisis triggered by the war in Iran breathed new life into the industry. China, the United States and Europe are competing for primacy accordingly.

The automotive industry is one of the central pillars of a country’s industrial power. It requires vast manufacturing ecosystems, promotes domestic supply chains of specific parts, sustains millions of jobs and is a symbol of modern economic strength. The problem for many of the legacy automotive powers is that the foundations of the industry are changing.

A relative newcomer to the game, China has gained a competitive advantage in EVs…