BEIJING: The biggest global auto show of the year showcases China’s ambitions to become a leader in electric cars and the industry’s multibillion-dollar scramble to roll out models that appeal to price-conscious but demanding Chinese drivers.
Auto China 2018 follows Beijing’s decision to allow full foreign ownership of Chinese automakers in a move to make the industry more flexible as it promotes electrics.
The ruling Communist Party has transformed China into the biggest market for electrics with billions of dollars in subsidies to producers and buyers. Now, Beijing is winding down that support and shifting the financial burden to automakers with sales quotas that push them to develop models Chinese drivers want to buy. AP
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