China aiming to tap US$23 trillion energy transition market
China, energy transition market
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China, energy transition market
As China’s economic expansion slows, mainland companies are eyeing the Middle East as an attractive alternative, with countries in the region seeking to develop tech-driven start-up ecosystems to reduce reliance on fossil fuels as a growth driver.
BEIJING: Chinese electric-vehicle (EV) makers are facing one of their biggest challenges yet: convincing drivers in the oil-rich Middle East to switch to battery-powered cars.
Driving an engine-powered car is still massively affordable in West Asian countries but electric models, especially those from Chinese brands, are gradually gaining ground.
With his booming relationship with Beijing, detente with Iran and normalisation with Israel on the table, the crown prince has rare leverage over the US. But his position is precarious