20 years ago, China bet big on electric vehicles. Now Western carmakers are feeling the pain

China's strategic investment in electric vehicle (EV) technology over the past two decades has catapulted it to the forefront of the global EV market, causing ripples of disruption for Western automakers who have historically dominated the sector. This long-term commitment has enabled China to not only manufacture cutting-edge EVs but also to establish a robust supply chain for critical components like batteries. As a result, Western carmakers are now facing stiff competition, which highlights the importance of strategic foresight in technological advancements and underscores the potential global shift in manufacturing and market leadership.