Quote:
Originally Posted by Hersbird
So Warren Buffett (who made a 7.2% return one day in his China electric car company at the announcement) pays how much to government officials to make an announcement that maybe someday they are going to do something else? I believe the other countries, I believe China about as far as I could throw them. I believe Warren Buffett likes money. Jimmy Buffett likes bars. China needs more bars. China needs more Jimmy Buffett, less Warren Buffett.
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China isn't doing this for Buffett.
China has been working a long time at both controlling emissions and curbing energy dependency. Once hostile to Western-imposed environmental regulations, they've made great headway into curbing pollution and investing in alternative energy... the Three Gorges Dam, their massive solar panel manufacturing concerns...
Buffett is only one investor in one EV manufacturer. Granted, it's the most successful one, but China is going all out on this. It knows that the EV revolution means huge profits for whoever controls the biggest market share before the ICE is banned... so they're working on cornering as much of that market share as possible before other countries ban the ICE.
Announcing that they eventually will ban the ICE isn't surprising for China. They're already further along into electrification than anyone else.