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This Chinese EV maker just lost $1.3b. It doesn’t care

Source: afr.com afr.com
News Snapshot:

The strike by the United Auto Workers union against three Detroit car makers, now in its third week, is at its heart a conflict over electric vehicles. The companies say they must invest billions of dollars to retool their operations, while workers say they must defend their jobs from automation and technology while increasing their pay. This week, European politicians threatened by a wave of Chinese exports formally launched an investigation into whether electric car manufacturers in China have received government subsidies, a step that could lead Europe to impose tariffs. China’s EV exports have surged 851 per cent in…

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