Etiqueta: Tariffs

05 Jul 2024 - Even though Tesla has again managed to remain ahead of BYD in the global battery-powered EV (BEV) production and sales race, analysts say it's only a matter of time before the Chinese car giant moves into the lead.

Hong Kong stocks retreated, underperforming regional markets, after the European Union announced provisional import tariffs on Chinese electric vehicles.

Thailand is a regional auto assembly and export hub. Read more at straitstimes.com.

Chinese automaker BYD continues to expand its business in Europe by developing local partnerships.

BANGKOK — China's electric vehicle giant BYD opened a factory in Thailand on Thursday, continuing its international expansion despite a market slowdown and hours before the European Union was due to impose swinging tariffs on Chinese electric vehicle (EV) firms.

The facility encompasses processes of stamping, painting, welding, final assembly, and producing car components.

The new factory in Rayong, south of Bangkok, was built in just 16 months and has an annual production capacity of 150,000 vehicles.

The European Union will impose tariffs of up to 37.6% from July 5 on imported electric vehicles made in China, ratcheting up trade tension with Beijing, in a latest effort to protect home-grown manufacturers.

Chinese automaker BYD has inaugurated its first electric vehicle plant in Thailand, part of the company's effort to expand into Southeast Asia while also tackling wealthier markets in the U.S. and Europe

BYD opened an electric vehicle factory in Rayong on Thailand's eastern seaboard on Thursday, as China's grip on the local car sector ramps up