China was first in the EV race, but it may be running out of power
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Japan has been leading the world in electric vehicle (EV) production, thanks to government incentives and tax breaks.
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China is also a major player in the EV market, producing a large number of lithium, iron, phosphate (LFP) batteries, and prioritizing affordability for consumers.
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CATL, a Chinese company, has become the leader in battery production, supplying about one third of all EVs globally.
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Ford plans to use CATL technology in a new battery plant in Michigan, but there are concerns about dependence on Chinese know-how and tax breaks for China.
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Governments around the world are worried about China's control of the EV battery market and are taking steps to counter its power, such as restricting Chinese investment in mines and factories.
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China's advantage in the EV market comes from its control of supply chains, labor, manufacturing infrastructure, and critical materials needed for EV production.
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China's dominance in the EV market has caused concerns about fair competition and environmental impact in Europe.
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While China currently leads in the EV race, there is optimism about new ideas and investments coming from the US and the potential for changes in the global market.
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