China has zoomed ahead in the electric vehicle (EV) race, leaving other countries like the US and Europe in its rearview mirror. But it wasn't just because the government threw money at the problem. There are valuable lessons here for anyone looking to understand how industrial policy can drive success. The Tesla Spark Sure, the Chinese government invested heavily in EVs, seeing them as crucial for the environment and economy. But the real game-changer was Tesla. When Tesla started making cars in China in 2019, it sparked a frenzy. Consumers were thrilled, and a whole new supply chain for EVs sprang up almost overnight. Innovation and Competition Innovation became the name of the game. Scores of EV companies popped up, each trying to outdo the other with the latest designs and tech features. Not all of them survived, but those that did became stronger and more competitive. Today, China’s EV market is known for intense price wars and fierce competition. Lessons from Beijing China’s ...