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Of course, Chinese automakers such as BYD and Chery are looking to avoid tariffs altogether and build cars in Europe, with BYD building a plant in Hungary and Chery looking to build cars via a joint venture in Spain. Other EV manufacturers in China, including BMW and Volkswagen, would be subject to a 20.7%
on Chinese EVs are designed to protect its struggling auto industry 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% for Geely, and 35.3%
News | Markets | Technology | Personal Finance | Small Business | CNN.com RSS Newsletters Video Home Fortune 500 Technology Investing Management Rankings Warren Buffett takes charge Warren Buffett hasnt just seen the car of the future, hes sitting in the drivers seat. Electric cars will be one answer.
Chinese OEMs are now producing good-quality vehicles, and thanks to cheap labor, government subsidies and economies of scale, they’re able to offer these at prices no Western automaker can hope to match. It’s building factories in Brazil, Thailand, Hungary and Uzbekistan, and will soon break ground on a plant in Mexico. You will die.
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