Money is of course needed in these kind of development, and we got plenty of to make the talents from the whole world work for us. And I believe EV is the future. Just look at the electrical scooters, cars will go the same way with infrastructure ready (those traditional car company all have EV program.). Oil is too precious to be burned, better to be reserved for producing chemicals.
It's not just money. It's expertise and industry knowledge. You think some guanerdai and fuerdai with way too much money and political connections can just create the next Toyota or Ford overnight? Gimme a break. Let's have some respect for the hard work of other people. The elites of China are shitty businessmen capable only of pushing out legitimate businessmen (Chinese or otherwise) from the market with their shady political maneuverings. In the end, the investors will get burned and the consumer will remain the loser.
