Etiqueta: Tariffs

BYD Co sold a record number of electric and hybrid cars in the second quarter (2Q), sales data compiled by Bloomberg News shows, as price cuts and new technology stoked consumers into purchases. China’s best-selling car brand sold nearly one million models over the period, solidifying a rebound after a slow start to the year. The sales were driven in part by the company’s move to reduce prices across most models earlier this year, sacrificing profitability, to target gasoline models made by foreign brands.

BYD says it will ‘deal with’ any tariffs imposed on Chinese electric cars if they’re ever added in the UK. Europe is threatening Chinese electric cars

When Germany’s national football team takes the field in Dortmund on Saturday, a game of geoeconomic chess will be taking place on the sidelines, with stakes that go beyond the European Championship.

In a striking forecast, industry experts predict that by 2030, one in every three cars sold worldwide will be produced by a Chinese carmaker.

Low-priced Chinese EVs pose a potentially “extinction-level event’’ for America’s auto industry.

The European Union (EU) reportedly revised its proposed tariffs on Chinese EV imports after gathering more information.

Volvo had previously said it would begin selling the EX30 in the United States later this year, but a spokesperson on Wednesday told Reuters that deliveries will not start until 2025, in part due to the introduction of tariffs of more than 100% on Chinese EV imports by the U.S. government. U.S. President Joe Biden unveiled steep tariff hikes on Chinese imports last month, including over 100% on EVs, up from 27.5% earlier. Volvo, the Swedish luxury brand owned by China's Geely, started building the EX30 in Zhangjiakou, China, and said last year it would expand production of the small electric SUV to a plant in Belgium beginning 2025.

Peru's president met with Chinese electric vehicle maker BYD on Wednesday, inviting executives to set up shop on the Andean nation's Pacific coast where another Chinese firm is building a massive port to facilitate trade between the two countries. President Dina Boluarte told the executives that if BYD were to build a auto assembly plant in Peru, it would benefit from the Chancay port under construction by Cosco Shipping Ports, set to open in November, according to a government statement. "In either of those places, that's where the vehicle assembly industry could be setting up," said Boluarte.

Peru trying to lure BYD auto plant with industrial park incentive