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Can Electric Cars Power China’s Growth?

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Abstract

China’s aggressive policies to develop its battery-powered electric vehicle (BEV) industry have been successful in making the country the dominant producer of these vehicles worldwide. Going forward, BEVs will likely claim a growing share of global motor vehicle sales, helped along by subsides and mandates implemented in the United States, Europe, and elsewhere. Nevertheless, China’s success in selling BEVs may not contribute much to its GDP growth, owing both to the maturity of its motor vehicle sector and the strong tendency for countries to protect this high-profile industry.

Suggested Citation

  • Thomas Klitgaard, 2024. "Can Electric Cars Power China’s Growth?," Liberty Street Economics 20240228, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:97869
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    File URL: https://libertystreeteconomics.newyorkfed.org/2024/02/can-electric-cars-power-chinas-growth/
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    Keywords

    battery-powered electric vehicle (BEV); exports; trade; China; Europe; tariffs; protectionism;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General

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