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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. If you’re an electric vehicle owner, charge up your car at home with rooftop solar panels.
The continent was mostly powered by locally mined coal until the 1950s, when imports of cheap Middle Eastern oil started transforming the energy picture. Peter Kovalev/TASS/Getty Images So how did Europe become addicted to Russian fossil fuels, particularly natural gas?
Subsidized solar panels have also wiped out European solar producers , and European governments are hoping the auto industry can avoid the same fate. Other EV manufacturers in China, including BMW and Volkswagen, would be subject to a 20.7% duty, while Tesla is subject to a duty of 7.8
They think BYD has a shot at becoming the worlds largest automaker, primarily by selling electric cars, as well as a leader in the fast-growing solar power industry. Today BYD employs 130,000 people in 11 factories, eight in China and one each in India, Hungary, and Romania. "Solar is an endless source of energy," Wang says.
As if that were not enough, I’m hearing now that BYD is on the verge of a breakthrough in the solar power business and that the company has big plans to make rechargeable batteries at a utility scale to store energy from intermittent, renewable sources like wind and solar.
In 2020 Tesla sold exactly 1000 of these for every solar-year day. Tesla’s now-made-in-China Model 3 won the local crown with 140k sales, but the real surprise was the teeny and dirt-cheap WHGMiEV (see the linked story to decipher the acronym), launched only mid-year and reaching 120k, the second Chinese model to score 6 digits in a year.
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