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market, the company’s recent release of a city EV with a price tag under $10,000 has some worried for when it and other low-cost companies do. BYD launched its Seagull, a small hatchback EV with a price tag starting at 69,800 yuan (~$9,773), at the Shanghai Auto Show last year. auto market anytime soon , some U.S.
On Tuesday, longtime autoindustry veteran Sandy Munro shared a new interview with Musk, held following the Cybertruck delivery event. For one, Musk said that Tesla was “quite far advanced” in working to develop the low-cost, high-volume EV, adding that he reviews the production line plans for that on a weekly basis.
Chinese automaker BYD has been seeking to build an automotive plant in Mexico, with the company’s regional chief executive confirming the plan on Wednesday. manufacturing advocacy group, the Alliance for American Manufacturing, this month warned low-cost Chinese cars and parts could threaten the viability of auto companies in the U.S.
Mitsubishi’s CEO Takao Kato explained, “Collaboration with partners is essential in today’s autoindustry,” with EVs and other tech rapidly developing. BYD is breaking into Japan’s seemingly impenetrable autoindustry. Ford is working on a low-cost EV platform with software at its heart.
BYD Seal test drive in Mexico (Source: BYD) According to the release, Tesla “may receive an individually calculated duty rate at the definitive stage.” With low-cost EVs, Chinese EV makers are quickly expanding in key global automakers. BYD’s leader said the new EU tariffs are a testament to China’s autoindustry strength.
Well, America’s autoindustry delivered over 100,000. And no one asked what it would cost. That helped us become the world’s greatest industrial power. It helps that the autoindustry will be building more efficient new vehicles. It’s a 21st-century equivalent of what we did in 1942. We just had to do it.
After decades of trumpeting “free trade,” and watching industry after industry decamp to China, the US government has apparently decided to draw a red line in front of the autoindustry, and protectionism is back in style. it has been plain that electrification is the future of the autoindustry.
In the past the autoindustry has responded to incentives and guidelines set by government agencies and reengineered their product to meet this requirement. In addition to giving every vehicle PHEV capabilities, we need to provide enough solar or wind generation to power vehicles, homes, and industry.
Farley explained on the call that Theres no question that tariffs at 25% level from Canada and Mexico, if theyre protracted, would have a huge impact on our industry, with billions of dollars of industry profits wiped out and an adverse effect on the US jobs. The SU7 starts at around $30,000 (215,900 yuan).
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