This year alone, more than 650 new or completely redesigned models have been introduced into the Chinese automotive market. Nearly all of those from domestic manufacturers both large and small. Some we’ve heard of, like Geely, Chery, and Galaxy. Others are much more obscure like Byton, HiPhi, and Yudo Auto.
On the heels of somewhere around US$200 billion in subsidies and financial aid over the past decade or so (about half of which were consumer incentives), the Chinese automotive market is shrinking as that aid dries up. About a third of that money went to manufacturers directly and the rest to charging system infrastructure around the country. For comparison, the U.S. government spent about $20B in the same time span.
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