Do you have any figures on the degree of subsidy? The impression I’ve gotten over the last year or so is that China has been phasing out their subsidies, which also went to companies like Tesla and Stellantis, and the main shift recently was the Make Smog Great Again bill over the summer setting the US back a generation which isn’t really a criticism of Chinese industrial policy.

https://www.bcg.com/publications/2025/ev-strategies-in-us-eu...

https://www.scmp.com/economy/china-economy/article/3322666/c...