Equation
Lieutenant General
Yes, EM is actually a much simpler technology than steam.
With EM, it is much easier to replace the components if required e.g. The electricity generators, the power cables can't break, the energy storage units and the launch rails.
With steam, you've mechanically complex conduits/components under high temps and high pressure buried deep inside the hull.
Also, look at the automotive industry. Chinese automakers would have to pour in vast resources to produce mechanically complex car engines on par with those from abroad.
So the government and industry decided to go with electric batteries and electric motors which is a far easier technology to master, and is the future anyway.
Electric car engines and with popularity of auto driving, the system is getting more complex, along with more rigid safety. China went this route because the timing and future of vehicle development are (as you've said) in electric cars and buses.