Save globalisation! Buy a Chinese EV
Electric cars can help stop the world from decoupling
SCHUMPETER IS NOT a car owner. He bought his last one, a diesel-fuelled Volkswagen, in 2015, days before the emissions-cheating scandal erupted. He was so appalled that when the car’s engine caught fire he vowed never to buy another and took to a bike instead. He has lived in emissions-free smugness ever since. At least he did—until increasing numbers of electric vehicles (EVs) started to swish past, signalling even more virtue. Now his car envy has returned—but with a dilemma. Some of the most appealing EVs in Europe are either made in China (Tesla) or by Chinese-owned firms (MG). Given concerns about the decoupling of trade into ideological blocs, should that be a dieselgate-sized worry?
This article appeared in the Business section of the print edition under the headline “The catfish effect”
Business April 9th 2022
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