Everyone knows the biggest winner from electric cars: Tesla. Few outside the auto industry know the other big winner: the battery maker CATL.
Fueled with money from Wall Street and local officials, automakers plan to build eight million electric cars a year there, more than Europe and North America combined.
Nio can tap an extensive supply chain that Beijing has built to achieve its dream of dominating the manufacture of electric cars.
With government support and lavish subsidies, Chinese companies have come to dominate the market for batteries, motors and other essentials Detroit may need for its new fleets.