Western VCs find China leads in clean tech, shift focus from startups

Western venture capitalists recently traveled to China to evaluate the competition posed by Chinese companies in the clean technology sector. After visiting several factories, the investors reported to Bloomberg that North America and Europe are significantly lagging behind China in the manufacturing of batteries, solar panels, wind turbines, electric vehicles (EV), and hydrogen technologies.

As a result of their findings, these venture capitalists have shifted their focus away from funding Western startups, deeming it less profitable, and are now opting to collaborate with Chinese firms instead. One investor noted, "it"s very clear that Western investors live in a bubble in their misconceptions about China."

This shift in investment strategy highlights the growing recognition among Western investors of China"s advancements in clean technology manufacturing.