Yes but EV's lot more than just batteries. Just because China's EVs use different batteries doesn't necessarily mean that they developed their EVs all on their own. That's what I was saying in responding to @mervyn's comments.
an italian invented the battery, the rest is just differnt chemistry, and the prodouct demands. you ought to build a future-proof portfolio on its merit rather than political persuasion. https://www.technologyreview.com/2023/02/21/1068880/how-did-china-dominate-electric-cars-policy/ When the Chinese government handed out subsidies, it didn’t limit them to domestic companies. “In my opinion, this was very smart,” says Alicia García-Herrero, chief economist for Asia Pacific at Natixis, an investment management firm. “Rather than pissing off the foreigners by not offering the subsidies that everybody else [gets], if you want to create the ecosystem, give these subsidies to everybody, because then they are stuck. They are already part of that ecosystem, and they cannot leave it anymore.”
I agree. That's why one needs to be careful to not blindly put their investment in China unless China has really developed something original and sustaining. If Musk really went to China because its subsidies on EV's then Musk was really short-sighted on this move.
Elon became the richest person faster than anyone in history because of the china factory to resolve the production and supply chain issues. from no 41 to no 1 in lesser than 3 years https://web.archive.org/web/20180301220201/https://www.bloomberg.com/billionaires/
Much of Musk's wealth is tied to Tesla's valuation, which since Nov'21 has dropped significantly. He may still be richest, depending on current valuations, but not nearly as much as he previously was. And the trend is no longer in his favor to remain numero uno.
You made me curious, because I figured you must be wrong: "Tesla remains the undisputed champion of EV sales in the U.S., capturing 55% of the EV market in 2023." So yes, 55% market share ain't monopoly...
he is an entrepreneur, got spacex valued at 180 billion, he own 42%. got the brain implement and xai, and twitter got money transfer licenses in many states. if he is anything, stupid is not what i'd say.
Pretty sure Elon Musk was already the richest or the second richest person in the world before he went to China. LOL