It is worth reflecting on how we got to the current situation, where for most of the last decade there has been a debate about whether Chinese manufacturers have been able to establish themselves in the global market. These discussions have taken a somewhat theoretical direction in light of the inability of Chinese producers to control even their domestic markets. Even entering the United States or Germany seemed like a breakthrough. China has built its electric car industry through orders for the government's transportation fleet, supply-side subsidies and incentives, as well as heavy investment in charging infrastructure. China controls about 60% of all EV sales, with a larger share of battery supply chains. Increasingly traditional Western automakers are trying to reach the top of the market to sell more premium cars. Some are abandoning the passenger car segment altogether to focus on more profitable SUVs and trucks. A Bloomberg NEF lithium-ion battery price survey shows that the battery pack is 33% more expensive in Europe and 24% more expensive in the US than its counterparts in China. The average price of a battery electric vehicle in China in 2021 was $26,500, which is two-thirds less than the average price of a battery electric vehicle in Europe and half that of the United States. It didn't work out that way in the world's largest car market. Rechargeable electric vehicles now account for about 30% of the total sales volume in China. Global companies, with the exception of Tesla, have a small share of these sales and it continues to decline. Even this possibility shows a BYD blind spot in this view. BYD is racing to sell two million plug-in electric cars this year, with a goal of selling more than 3 million in 2023. That far exceeds what traditional Volkswagen is likely to achieve in the same year. In addition, it is still difficult to make high-quality cars.