are mapped out shows the geo political reality. the on the board is what makes things the way they are mapped out, navigating a changing world. now on youtube the the ready to take up. let's do that right now. on our end the trends, the electric vehicle industry, so i thought taping points, well it slide all collapse under the pressure on one front. domestic manufacturers engaged in brutal price worth of feature bedrooms. where on the other,

they face global threats from steve terrace and substitute you of us a are ready to slabs of breaks on chinese tvs, going global. the chinese domestic. the moffatts is not the biggest in the world. yes. only test last b y, d i, b, all adults has been able to make a profit. we have select with the vendors, these rigs. but what's up all the casualty? over 400 the electric vehicle companies have by the end, the staggering 90 percent has gone fund crossing just to 60 it's only giants like tesla, b, y, d. and we also have managed to turn a profit in this cost. so much to this is about of, of survival and to see who is the strongest manufacturer. chinese companies have gained a cost advantage through cut throat competition in,

in recent years. so only the strong survive in china. we believe all things we've done. this is basically all easy production supply chains are under chinese control, given china and almost insurmountable advantage. that's nearly impossible for the germans to catch up to no one. what's the chinese government's role in? how the china is the electric vehicle industry getting such a head start? and what does the future hold behind the success of companies like b, y b? how many husbands left in the task brought to you by the deputy rep? let's out into the told stories of china electric vehicles. busy in may 2024. well, jerome was still deliberating by the on how to impulse special terrace. i'm trying these made electric vehicles. the united states took the size of step, is decided to raise tigris on chinese made electric vehicles from 25 percent to 100

percent. folks. look, i'm determined that the future of electric vehicles we made in america for you, you'd work, period. now these inside them find out what is yes and the us government's decision to quadruple the punitive tariff. not to 100 percent. is a very, very drastic scale to so far beyond what might be expected. would you say it lets me see cartoon network give me all it does for austin? i was a bit surprised and i find it disproportionate. the automotive industry is highly mature. over the past 30 to 40 years, we've seen increasing global openness and integration, removing trade barriers and a free competition is good for the economy. so i think cutting things off like this is a very negative signal and then you've got to be receiving audits. and so now don't forget that justification for the huge tire of inc. chris, is the chinese government has been heavily subsidizing is industry,

particularly the steel solar and the sectors leading to a massive over capacity. we have this not tradition. of course, we already know that china is over capacity in the sector is a global issue about setting punitive tariffs at 100 percent is very, very severe. and this is certainly because of president joe biden that's currently in campaign mode. when you didn't to binds this moment time and by comes to send it well, a 100 percent terrace sounds huge. meaning the price of newton port a chinese e. b in the u. s. doubles for the chinese industry and global each rate is not a significant issue. discussed other things of notice on the effects, the 12000 davies that were exported from china to the us last year was, which is really a negligible proportion of chinese export isn't getting. i'm tired of funding. she

needs as an export and politic tacos and in comparisons. try that, exported over 5000000 vehicles globally in 2023. the economic impact of selling child cells and fewer eaves in the u. s. is minimal. type is and that's as you put on this doesn't change much economics, it's more of a political statement. of course, there's also a domestic political dimension, especially in an election year. i was just and it's also a statement against the massive subsidies in certain industries in china. and recent years it's and it's good. we have mentioned subsidies several times now, before delving deeper into the subject. let's see how europe is dealing with these issues portrayed to be fear, the access to each other smart. it also needs to be reciprocity. and we discussed how to make real progress on market access. i remain confident that more progress can be achieved. at the same time, we stand ready to make for use of our trade to defense instruments. if this is

necessary, european commission president was off on the line, made his statement after meeting shooting. you may 2024. the traits defense instruments she referred to include imposing tyrants on chinese eves. similar to the us approach, confirmed facts include the use announcement in october 2023 of a formal investigation into subsidies for chinese made ease. say, it had sufficient evidence. it came shortly after numerous electric chinese vehicles were showcased at the munich international. more to show em let's. yeah. tina i just conference me on last year. and china exported 1500000 ease of which 500000 went to the you and the only 12000 to the us as highest the why the highest means to you has a much larger influence on both the u. k. more responsibly and broadly discuss

these issues with the badging governments want and it seems so it's in china is likely greater than that of the us due to the minimal number of eaves and exported to the us. um, even knows that we need a tool not sorted or not to explore people the like the us, the us main criticism of tying those in the street revolves around subsidies, particularly focusing on over capacity. the quote of doctors ations is that by providing massive subsidies to key industries including the bees, the chinese government has created significant over capacity. but as our as to, to yours have pointed out in previous episodes, europe and the u. s. has also provided substantial subsidies to industries like

a b y even is just so much focus on criticizing the chinese government for its subsidies. to answer this, we need to understand the extent of paging subsidies. these are the 2019 statistics for industrial subsidies provided by the chinese government as compared to t o e c d countries. trying those about sweet times that of the 2nd place in the united states. nearly 10 times that of japan. as more that 15 times, that of germany, a significant portion of chinese subsidies spend to the sector china, a long shot pilot project to support the development of eaves as early as 2009. though the subsidies have been decreasing in recent years. china has made this a national goal and pursued a good industrial policy to those people to take them all the time. his

government's approach was to gradually encourage enterprises to enter the new energy vehicle sector while supporting the development and production of battery technology and related role materials. this gradually established a comprehensive e b industry chance in china, just being honest, mitch soto lumen on the you all want months my off the investment. of course, this was all backed by government subsidies and encouragement, and sometimes direct investments from government supported funds on this is go to industrial policy. and wild chinese companies obviously benefited greatly, far, and companies like tesla also profited from this policy policy over 2 that was done nutrition. postpone eating company fights and ultimately failed due to a broken funding trend. never to less buy's and also received subsidies from the chinese government. it'd be happening over time advise that we also had some

government capital, but it didn't help us at that stage. that's not so it's not that the government unconditionally intervenes in the market. you do competition still exist in boxes so that it's not all that develop. i'm not understanding the full all of subsidies provided by the chinese government to the sector is no easy task. how i work from this chart of approved new energy vehicle purchase subsidies. we can get a glimpse of just how much money is involved. and here are the top 10 companies that received these subsidies, leaving the pack a, b, y b and the gag group, which received massive direct government assistance from 2018 to 2022. particularly in 2022. this direct subsidy to local companies,

rather than following ones, is a major point of criticism from europe and the u. s. as it impacts fair competition in the international market and leads to a significant over capacity. gina, have shown china has had over capacity for decades due to it system type, which is not a free market economy, but state controlled on the windows. the data prevents the government's decide to build a factory. it often isn't based on market criteria, but rather is simply executed shelters leading to this of and capacity to shop move . the shop needs a cup of tea, cup of tea to local governments. across china's provinces have greatly contribution to the overall capacity port. a mold in china, nearly every province posts numerous and national level, t industrial parks or the button and zones. the perverse planning on the even advertising slogans and promotional reviews of these areas. a very similar to

ensure economic growth and maintain the political standing. local governments have heavily subsidized the local manufacturing and high tech industries from an economic perspective, subsidies div toward market making, and lead to welfare loses for society as a whole. however, europe and the us have also been active in providing subsidies, but it comes to the criticism of chinese subsidies. i believe this is a pretext to the chinese government has massively supported the ag center, but this is no different from good industrial policies in europe or the us think about air bus in europe. and it's on think about that. it could have become a market competitor without substantial subsidies and industrial policy support. and those 2 pointed to go, however, some of you with that chinese government subsidies differ significantly from those in europe and the us national china indeed operates different. as i mentioned

earlier, every provincial government heavily subsidized as local manufacturing. i'm in and in this context, they naturally have at least support local companies before tuesday, not tuesday. hi, machine on beach must be the chinese government's actions have multi. if i say that impacts on the global economy talk, meet us as mine, and my notes on kind of this issue can also be viewed from this perspective. a chinese government is wasting money by pre selecting industries to support creating huge capacities in those fields which makes these products very, very cheap, and then got easy and compensated. and just helping me, that's what's in this. these are prove to comes constance degree sam, or as worldwide benefit from this, such as with cheap solar cells and tv is the altos. what frustrates me about this discussion. industrial policy is essential and germany came out of 4 to week ending

auto industry, the ultimate. but what about the climate debate? it's been completely forgotten. we've set the goal to become carbon neutral because it's regarding global emissions and find that goals where at the last minute must group on it needs. we need to bring affordable eaves to the market as quickly as possible to help achieve this goal. to get all this and in my thinking, there are plenty of for what, using the chinese market was the rapid expansion of continuous prize cups. companies like the why, the ged, i'm cherry china, the market has become the most competitive in the world to come from. this is a battle of survival to see who is the strongest manufacturer. and this from your chinese companies have gained a cost advantage through cut throat competition in recent years. and so only the strongest, survive in china, snacks, new belief organs, you know, in raising here, trying these government has significantly reduced subsidies for the industry. that

market forces the site, the face of the company, a mom, that's why the stands out as a clear, been having become the board largest e v maker by sales in 2023. what is the secret behind the success of trying these ag market leaders like the white jesus conceiving economies of scale and profitability? have been the fundamental principles of the automotive industry. for a 100 years, you might need some marketing. for example, b y, d initially wasn't part of the traditional automotive industry, but was a battery manufacturer. and that they quickly realized that in the east, after the battery is the core components leading them to focus on a completely different technological pass. my number is that the b y b is done is called you know, what say a, b y, d is number one, simply because they started focusing on this issue early on a success factor. similar to tesla is the vertical integration of the battery from

the start they relied on having their own batteries, which is a major cost factor to cost and talk to us. now let's look at those who have fallen in the chinese e. v market. please stand up and pay your respects to this one's bushes players or didn't make it the you saw just some of the manufacturers that have recently been wiped out except for b, y d and we all little, oh you makers are losing money on i, we caught sold, this includes well regarded brands like neil ix paying. i cho on show me. currently, the r o a 100 new energy vehicle companies in china with almost every providence

and speech and having its own ultimate goal not despite the large size of the chinese market. having over a 100 e v manufacturers is obviously too many, one for these winds. even the central government says i'm the about attempt as many are needed in a selection process is happening now. since and so provincial governments will continue to try to support their local manufacturers waiting after that to, to, to hire a machine not and is the chinese market is crazily competitive, small businesses? oh, i believe every major transformation requires multiple players to participate. and unfortunately, some will disappear like my own company by tim did them, do you know much my mind? i mean by crush it and other industry insiders tell us that the many reasons so many companies file is that big, grossly under estimated the cost of common the factory. there is

a consensus in the industry that result at least $2000000000.00 is thought up capital. it's not even for us talking about creating an e b brand. the company still surviving into tiny small kitchen includes trying this like b, y, d, g, d, a chevy. which has achieved economies of scale as well as new payers, like neil explained on service to that the you and the, the brands backed by traditional automakers. blackstone, full size on the competition is already tough with makers under intense pressure pressure on the list. agree with the central governments assessment, that's a much smaller number of companies will support this is should be on. sometimes it's hard to say who will survive some say only 5 to 10 companies or remain, but i don't believe that china,

it was just too large. and every provincial government has its own company. i think 20 to 30 companies were over them and i saw the dice and we'll continue the next 5 years. we'll see even more intense competition. but i believe in easy with salt on the do you mind a lovely by 2030? we'll see. these have a global market penetration of over 50 percent. so if half of the board call market will soon be electric. how much all that will be chinese. it'll china beckett's to reach over 1000000 car exports. however, it only took a year to go from by median to, to meeting another year to a surprise to see media in 2020. so we try not exported over 5 medium vehicles, becoming the boards largest con, explore to install the new stuff to the screen. i don't think this growth will

continue as entire regions will start sealing off their markets. currently only the europeans haven't done so, but they probably will. soon what we're seeing is essentially marketing closing. and chinese automakers will also be effective tonight. and as they won't be able to continue marketing their cars globally, you know, to statewide the market print a closer look at the top 10 destinations for trying these con, exports in 2023 suggests that the threats of significance tire of increases in the us and europe, one stop chinese cars from finding buyers are running toward the u. s. ranks for teens and germany ranks sixteens among the export destinations. in contrast, for germany try those car market remains crucial. the detroit, the ext,

dental german manufacturer skill set like a huge portion of their cars in china. so europe suddenly says we will close our doors to chinese manufacturers. china could easily say we will close our doors to german manufacturers, which could the disaster for the german economy then economy was the door to the bookshop. try these makers need to be able to compete in the market where buyers demand the latest technology and features. but that's not the own advantage over established german brands. as it is a company, not this combination of technological development and hardware and software along with the subsidies and the fact that basically all the production supply chains are under chinese control, gifts, china and almost insurmountable advantage. that's nearly impossible before the germans to catch up to watch. and no one does a batch or has only just begun on the list like fedex. we believe that the u. s. is

currently protecting its domestic industry by copying china's own strategies. as the issue designed in opium lots, now i would say that europeans have no choice but to follow the path already taken by the chinese ends. now the americans hold mountains means english. they must now engage in industrial policy. define key technology is more and see where they may already be vulnerable and go from this fund to one is it's by assume like a brutal survival battle. but the words twice, organization has long sets rules for stocks, disputes, unfortunately, almost no major power is willing to follow them. now the or the multi that's a honda accord, multilateral coordination and world trade has become very, very fragile lenses are me if i may say, so he took the w t o has been stagnant for years, is and this comes at the expense of everyone's welfare. i know it, donald plans,

whether in china, the us or europe. we all benefit from this rule based global trade winds and leave your budget of 800 once terrance are set this high, it becomes challenging, also exists and it says this must be like the this is the world's largest mobile railway with new things, constantly being it got ads as the vision of recreating the monocle ground pre with really little formula. one cars are missing and i can find these a captain. so any tank into these tiny cars, it's impossible. some 1200 trains zip through germany, europe and the world. all of this is down to a childhood dream of these twins. and they've just opened up a brand new area. the display has 16 and

a half kilometers. subtract the are also around 300065000 buildings. and some 500000. that'll be de lamps that lies up at nights, which comes every $15000000.00 to a wonderland does house and old warehouses of hendrix, poor and old again in 2001. since then, the founders have come from expense and then launched in miniature was today, the attraction is around 5 times with the original size. they had it for that exact measurements of the idea of march held to the impulse towards fleet, which we always had. we played so much as children to me, and i really hope that for many people we can we, a week. and that instinct for playfulness, the principality of monica, and frances provides amount ac pots admitted to, of on demand, as always,

in $187.00 scale. in addition to the, from the hub of the formula, one circuit is also taught at the cities. great. yeah, i'm, i'm good. we have a big team that loves to laugh, that's very creative as that goes to the world with their eyes wide open, or dest. federal fits with monica nickel menu to london, and has 14 different worlds and theme areas. one of the most popular is to stick to the city. that stuff is equally fascinating kind of thing and deal with 45 different airplanes land and take on this one country. in particular, that seems the specially popular diminishes with century produces real triplets at the prism about escape the issue of window lines. there are hundreds of districts where the person who built something has an some we brought their own self expression into it. and i mean, i was looking recently and you can spot some heater in there. and you shall find

whether it's 50 long stalking at home and deliberately kuta levels and vince wherever you look. we need to live on the line is full of surprises. the, the more automotive tales next time on read the

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