environment is not responsible make up your own mind. d. w. made for mines the the ready to take up. let's do that right now on our end the trying this the electric vehicle industry. so i thought keeping points, well it's swipe or cold. let's under the pressure on one front, domestic manufacturers, even in recent years. so only the strong survive in china. we've done that.

basically all easy production supply chains are under chinese control, giving 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, d? how many have been left in the task brought to you by the deputy rep? let's solve into the i'm told stories of china electric vehicles in the district. busy in may 2024. my girl 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. if 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 to be made in america for you, you'd work, period. now do you then find 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 stand up to some good far beyond what might be expected. would you say it lets me see cartoon network get me all with us? awesome. 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 freight 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 that the chinese government has been having these subsidizing it's industries,

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 tariff at 100 percent is very, very severe. and this is certainly because president joe biden, that's currently in campaign mode when you didn't to binds this moment. time in by comes to send that well, a 100 percent terrace sounds huge. meaning the price of the import, a chinese e v in the u. s. doubles for the chinese industry and global each rate is not a significant issue. there's other things of notice on the affects, the $12000.00 davies that were exported from china to the us last year was which is really a negligible proportion of chinese export isn't giving a on time funding. she needs as an export and kinetic tonsils,

in comparison. try like partridge, over 5000000 vehicles globally in 2023. the economic impact of selling ciao cells and fewer eaves in the u. s. is minimal sized. is another, you know, 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 mass of the subsidies in certain industries in china, in recent years. it's and it's good. we have made some subsidies several times now, before delving deeper into the subject. let's see how europe is dealing with these issues portrayed to be fair. access to each other's market 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 defense instruments. if this is

necessary, european commission president was off on the line, made his statement after meeting she's in pain in may 2024. the traits defense instruments she referred to include imposing terrorist on chinese eves. similar to the new with a problem, a confirmed facts include the use announcement in october 2020 suite 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 and conference me on . last year, a china exported 1500000 eaves of which 500000 went to the you and the only 12000 to the us as high as the will have the highest means to you has a much larger influence on both the u. k. more responsibly and broadly discussed

these issues with the badging governments want and it seems so ins in china is likely greater than that of the us due to the minimal number of the v is exported to the us even know, so we need to edit cool thoughts not to explain to the like the us to use mean criticism. i'll try those in the street. revolves around subsidies, particularly focusing on over capacity. the quote of the accusations is that by providing massive subsidies to key industries including a 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 us have also provide its substantial subsidies to industries like

a b y, then is just so much focused 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. china is about 3 times that of the 2nd place. the united states nearly 10 times that of japan as more than 15 times that of germany. a significant portion of chinese subsidies spend to the ease extra trying a long shot pilot project to support the development of eaves as early as 2009. though the subsidies have been decreasing in recent years, has made this a national goal and pursued a good industrial policy to those people to take them off their 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 tv industry chin in china, just being honest. mitch soto lumen on the months my, off the investments, of course, this was all backed by government subsidies and encouragements, and sometimes direct investments from government supported funds. this is good industrial policy and well, chinese companies obviously benefited greatly. foreign companies like tesla also profited from this policy quality of the 2 that was done nutrition. postpone eating company fights and ultimately failed due to a broken funding trans, nevertheless, buys and also received subsidies from the chinese government. it'd be kind of,

i is the, 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 want to do competition still exist in boxes so that it's not all that develop. i'm not understanding the full all of the 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 gas coup, which received massive direct government assistance from 2018 to 2022. particularly in 2022. this direct subsidy to

a local company is rather the 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. tina has shown china has had over capacity for decades due to it system type, which is not a free market economy, but state controlled. and then when this data prevents the government's decide to build a factory, it often isn't based on market criteria, but rather is simply execute consulting leading to this of a capacity or something on the shopping is a complicated, complex you to local governments across china as provinces have greatly contribution to the overall capacity port. are you more than china? nearly every province, both numerous and national level, t industrial parks or the button and zones. the perverse planning and the even advertising slogans and promotional reviews of these areas are very similar. to

ensure economic growth and maintain the political standing. local governments have heavily subsidized the local manufacturing and high tech industries from economic perspective, subsidies this toward market making and lead to welfare loses for society as a whole. however, europe under 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 center, but this is no different from good industrial policies in europe or the us think about air bus in europe and think about and it could have become a market competitor without substantial subsidies and industrial policy support the pointing to go. however, some of you with that chinese government subsidies differ significantly from dolcy

in europe. and the us national china indeed operates different. as i mentioned earlier, every provincial government and heavily subsidized as local manufacturing. i'm and in this context or anything naturally, heavily support local companies before to lindsey, not to this to high motion on beach must be the chinese government's actions have multi for said it impacts on the global economy. talk to each of us, mine of mine always 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 find a very, very cheap and then go to easy templates to death. and the shocking me, that's what students to caesar proof to comes, comes to instagram, sam, or as worldwide benefit from this, such as with cheap silver cells and tv is the altos. what frustrates me about this discussion, industrial policy is essential and germany cannot afford

a weakening auto industry, the ultimate. but what about the climate today? it's been completely forgotten. we've set the goal to become carbon neutral because it's regarding global emissions in fine because we're at the last minute must group on it and we need to bring affordable eaves to the market as quickly as possible to help achieve this goal. was, isn't in, not the, there are plenty of for what you've used in this findings market was the rapid expansion of the continuous price cuts by companies like b, y, the ged on 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 new chinese companies have gained a cost advantage through cut throat competition in recent years. and so only the strongest, survive in china, snacks, new by the moment, you know, in raising here trying these government has significantly reduced subsidies for the

industry that market forces besides the face of the company. among the b y b stands out as a clear, been having become the board largest e b maker by sales in 2023. what is the secret behind the success of trying these ag market leaders like the y d e 's? this cost saving economies of scale and profitability have been the fundamental principles of the automotive industry for a 100 years, b, y for example, b y, d initially wasn't part of the traditional automotive industry, but was a battery manufacturer quickly realized that in the east, after the battery is the core components leading them to focus on a completely different technological pass. is that you want to use guns called, you know, what's clear, b y d is number one simply because they started focusing on this issue. where are they on a success factor? similar to the 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 they didn't make it. the, in the usage of some of the manufacturers that have recently been wiped out. except for b, y d, and we also owe you makers losing money on i, we caught, sold this includes well regarded brands like neil ix paying. i cho on show me currently they are 0100 new energy vehicle companies in china with almost every

provisions and seats 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 only about attempt as many are needed to get a selection process is happening now. and some provincial governments will continue to try to support their local manufacturers finding 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 i'm sending to disappear like my own company bytes and the data there isn't any bind trish 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 we've dealt at least $12000000000.00 is thought off capital. it's not even for us talking about creating an e. b brand. the company still surviving. the chinese 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, i've said, add 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. this should be on suzanne. 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. big, i think 20 to 30 companies were over a man. i saw the dice and we'll continue the next 5 years, we'll see even more intense competition. but i believe any of us on the united community 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 of that will be chinese? it's a china beckett's to reach over one meeting car exports. however, it only took a year to go from median to, to meetings. another year, to a surprise. 3 meetings in 2020. so we try not exploded 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 docs and the chinese automakers will also be affected. and also as they won't be able to continue marketing their cars globally. my task. you're also statewide. there's a mark defense, a closer look at the top 10 destinations for trying these cars exports in 2023 suggests that the threats of significance tire of inquiries is in the us. and your old one stop chinese cars from finding buyers around the world. the u. s. ranks for teens and germany ranks sixteen's among the export destinations. in contrast, for germany try those car market remains crucial. dom i, detroit the s,

dental german manufacturer and skill set like a huge portion of their cars in china. so if you're upset and they says we will close our doors to chinese manufacturers, china could easily say we will close our doors to german manufacturers, which could be a 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 on features. but that's not the own advantage over established german brands. as a decent 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 2 directions. talk no one. this a battle 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 an equal design and in opium. lots. now i would say that europeans have no choice, but to follow the path already taken by the chinese hands. now the americans hold mountains means in the street. they must now engage in industrial policy. define key technology is mind, see where they may already be vulnerable and go from excess 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, what even would you like to an article, mostly lateral coordination in world trade has become very, very fragile ones. those are me if i may say so who to the w t o has been stagnant for years is and this comes at the expense of everyone's welfare. i know it,

donald pay is whether in china the us or europe. we all benefit from this rule based global trade on some legal positive, very 100. once tariffs are set, this high, it becomes challenging, also exists and such as most really the this is the world's largest mobile railway with new things, constantly being it guy has it's easy enough, recreating the monocle ground pre with a real little formula. one cars are missing and it, i can find these are, you can't. and 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

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