..... China has spent $60 billion cumulatively in domestic subsidies in order to become the dominant global player, but it ended the EV gravy train this year, cutting subsidies by 65 percent, with plans to eliminate them entirely next year. The result? China’s vaunted EV sales growth went negative. Having abandoned direct subsidies, China will now simply require that EVs make up 3 to 4 percent of all domestic car production.....
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Rarely have so many claims about a product been so wrong. The only unequivocal fact in the EV narrative is that more EVs exist today—approximately 4 million—than ever before. Lithium-battery chemistry—the inventors of which received the 2019 chemistry Nobel Prize—along with advances in power electronics, has made it possible to build practical, if expensive, electric cars. But everything else in the popularized EV storyline is deeply misguided. Advocates claim that EVs are far simpler machines than combustion engines. But the essential “engine” for both is similarly complicated. While the EV’s electric motor is simple, its battery is a half-a-ton electrochemical machine with thousands of parts and welds, along with wiring, electronics, and cooling. It’s every bit as complex as—and far more expensive than—the combustion-mechanical drivetrain that it replaces.