The announcement helps Biden ahead of November's presidential election by allowing the presumptive Democratic nominee to further align himself with the powerful
In 2023, Chinese electric vehicle exports to
The reason for the low penetration of Chinese manufacturers in the US was the 27.5% tariff that
Despite the tariffs, Chinese electric vehicles pose a threat to those produced in US plants by domestic manufacturers (
BYD, the largest EV manufacturer
BYD exemplifies how Chinese brands are threatening American brands. In 2023, it sold a record 3 million EVs, making it the largest electric vehicle manufacturer in the world.
BYD has been producing electric vehicles since 2005 and has gradually improved its cars to become the main rival to
The Chinese manufacturer's Seagull model costs around
But perhaps a better example of the threat Chinese manufacturers pose to the US sector is
Two years later, the company unveiled its first vehicle, the SU7, which BYD began marketing in March.
In April,
Unrivaled electrics
Just a few months ago, he said before analysts and journalists, that Chinese automakers will "demolish" global rivals without trade barriers.
Musk is not alone in warning of the risks Chinese EVs pose to
In February, the
The study noted that "BYD unveiled an electric SUV in February for an astonishingly low
AMA concluded that Chinese manufacturers would also be able to overcome tariffs of 27.5% and that only a sharp increase would stop ultra-cheap EVs from entering the country. EFE
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