electric vehicle market in China is growing rapidly as automakers continue to release new battery-powered models. Manufacturers who are not limited to operating in their own country, but have begun pursue a policy of expansion. For example, in 2023, we have witnessed several Chinese brands landing on the Old Continent, where in addition to selling their cars, they also intend to build factories.
Let’s think about BID, for example, which in the last quarter of 2023 sold more electric vehicles worldwide than Tesla and which has already appeared in several European countries, including Italy. The automaker, which also intends to build a plant for the production of its cars in Hungary. Progress of Chinese brands is worrying Tesla which has the largest manufacturing plant in China.
During the presentation of the latest quarterly data, Elon Musk it was abundantly clear: without trade barriers, Chinese brands would destroy most other automakers in the world.
Chinese automakers have proven to be the most competitive. I think they will have significant success outside of China, depending on what tariffs or trade barriers are put in place. If trade barriers are not put in place, they will effectively wipe out most other automakers in the world. They are very good.
In short, the Tesla leader is concerned about the way Chinese car companies are growing. Because of this, special trade barriers will be required stop their growth outside their own country. Europe is already moving in this sense. The European Commission has officially launched an anti-dumping investigation into electric vehicles produced in China.
The investigation will first determine whether China’s EV value chains benefit from illegal subsidies and whether such subsidies are causing or threatening to cause economic harm to European BEV model manufacturers. Based on the results of the investigation, the European Commission will determine whether it is in the interests of the European Union to eliminate the consequences of the identified unfair commercial practices. introduction of anti-subsidy duties on the import of battery electric vehicles from China.
Musk’s comments come as the US presidential election picks up steam. President Joe Biden said China is determined to dominate the electric vehicle market and that “he won’t let this happen” Former President Donald Trump, the Republican front-runner, said he would take action on the tariffs.
Source: HD Motori
Ashley Fitzgerald is an accomplished journalist in the field of technology. She currently works as a writer at 24 news breaker. With a deep understanding of the latest technology developments, Ashley’s writing provides readers with insightful analysis and unique perspectives on the industry.