Etiqueta: subsidy

BYD, which overtook Tesla late last year as the biggest global EV maker, is about to raise the stakes.

China's temporary extra tariffs on imported vehicles and its potential impact on its trade tensions with the US and EU automakers.

Even after tariffs and modifications to meet European standards, BYD executives expect to sell the Seagull for less than €20,000 ($21,500) on the continent.

China's auto industry has seen rapid development in recent years, with the electric vehicle (EV) sector in particular gaining global prominence. This is in line with China's green development concept, as well as the global effort to cut carbon dioxide emissions to tackle climate change. However, China's EV industry has also become a target for a US' crackdown campaign against China. The EU has also launched a so-called anti-subsidy investigation into Chinese EVs.

Chinese electric car manufacturers BYD and Chery are in ongoing discussions with the Turkish government on potential electric vehicle (EV) factories.

Four Million EVS Sold Globally in 2024 according to Rho Motion

Chinese EV makers are pushing back against the idea that their success in making affordable cars is due to state help.

14 May 2024 - China's car market slowed in April, and had it not been for a reasonable performance by the still-growing new energy vehicle sector, total sales would have looked forlorn. However, while sales of new energy vehicles (NEVs) did fall in April, the sector’s share of total vehicle sales jumped to a record high, as sales of conventionally powered ICE (Internal Combustion Engine) vehicles slid faster than sales of NEVs.

Germany – specifically, its automotive industry – is Europe’s true Achilles heel when it comes to China policy.