China has spent $230 billion to build its electric car industry, CSIS says. BEIJING - China has burned through $230.8 billion fostering its electric vehicle industry more than 10 years, as indicated by examination distributed Thursday by the US-based Place for Vital and Worldwide Investigations. The size of government support addresses 18.8% of absolute EV deals somewhere in the range of 2009 and 2023, said Scott Kennedy, executive of Chinese Business and Financial matters at CSIS. He noticed that the proportion of such spending to electric vehicle deals has tumbled from more than 40% long before 2017 to simply more than 11% in 2023.