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Why hes banking on an obscure Chinese electric car company and a CEO who - no joke - drinks his own battery fluid. The E6 will hit the Chinese market later this year. The deal, which is awaiting final approval from the Chinese government, didnt get much notice at the time. EMAIL | PRINT | SHARE | RSS DIGG FACEBOOK DEL.ICIO.US
We EV pundits have been writing about the rise of the Chinese EV industry for years. In recent weeks, the mainstream press has picked up on the story—many articles describe the coming wave of Chinese exports in apocalyptic terms. A recent headline in the New York Times warned of a “wrecking ball” heading for Detroit.
BYD Atto 3 (Source: BYD) Europe and the US say that Chinese EV development is running wild and unchecked and on the verge of overwhelming the global market with, well, EVs the rest of the world can’t compete with. China last year overtook Japan as the world’s biggest car exporter – but most of those were ICE vehicles sold to Russia.
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 auto industry from total demise. Since the US and Canada apply 100% tariffs on EVs coming from China, Europe has been the most obvious choice for Chinese expansion.
As the European Union slaps more restrictive tariffs on EVs pouring in from China, Chinese automakers have found a workaround: they’ll just make and export hybrids instead, since hybrids of all varieties are bizarrely exempt from the tariff scheme. 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. The Shenzhen manufacturing region, where the company is headquartered, is known for cheap unskilled labor, but BYD’s competitive advantage derives from its cheap skilled labor. government is going to help U.S.
For example, with increasing evidence of genocidal Chinese government towards Uyghur residents, including forced labor camps, the lack of transparency regarding whether any Chinese EVs benefit from such labor prompts me to deduct 1 production point from China (out of ~25 it had earned). Globally ~14k Ioniq BEVs were sold.
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