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It’s official: The European Union is moving ahead with increased tariffs on Chinese-made EVs to as much as 45.3% – in an effort to save its autoindustry from total demise. Subsidized solar panels have also wiped out European solar producers , and European governments are hoping the autoindustry can avoid the same fate.
on Chinese EVs are designed to protect its struggling autoindustry from Chinese competition, with Chinese automakers flooding the bloc with cheap imports. BYD is also considering manufacturing both EVs and hybrids at its new plant in Hungary. The European Union’s latest EV tariffs of up to 45.3%
Today, BYD employes 130,000 people in 11 factories, either in China and one each in India, Hungary and Rumania. And if you doubt that they will learn, check out my cover story about BYD in the new issue of FORTUNE, headed to subscribers and newsstands this week. This could turn out to be one of Buffett’s very best deals.
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