might convince price-conscious consumers to ditch their gas guzzlers sooner. But politicians in Western countries also want to protect their own clean energy industries, in which they're investing billions.: "We want to contain China, even if it comes at the expense of addressing the world's climate change crisis," Stephen Roach, the former chair of Morgan Stanley Asia, tells Axios.
They warn a global glut of low-priced electric vehicles makes it difficult for other countries' industries to compete. "Countries are racing to impose tariffs before others. They don't want to be the last ones standing unprotected, receiving China's underpriced vehicles," Kennedy said.Since 2009, China spent a cumulative $230 billion in subsidies for its electric car industry alone, according to Kennedy — an amount