Xi’s China EV dream is coming true

In pole position: Sales staff stand near the Seagull electric vehicle from BYD at a showroom in Beijing. The car, launched last year, sells for around US$12,000 in China and rivals US-made EVs that cost three times as much. — AP

HONG KONG: Ten years ago almost to the day, while checking out a handful of luxury sedans from one of China’s largest automakers SAIC Motor Corp, President Xi Jinping gave a pivotal speech that would set China on the course to dominate the electric vehicle (EV) industry.

The path to becoming a strong automaking nation lies in developing new-energy vehicles, Xi said, according to a 2014 Xinhua report.