China has subsidized the shit out of their car industry. Dumping trillions of renminbi across every vertical and then ramping up production to flood every market with a deluge of cheap EVs will do that.To their credit they are also willing to let bad car companies die and the good ones take their place.

Not that we couldn’t have done the same but the people elected a party which has a walking orange disaster of a president into power and they are doing their very best to hand the future to the Chinese.