According to Economist:
Reversing on evs could be risky for Western carmakers. According to Schmidt Automotive Research, a consultancy, Chinese brands controlled 10.7% of the market for all-electric cars in western Europe in the first ten months of the year, a percentage point higher than a year before, despite the eu’s imposition of additional tariffs on evs imported from the country in October 2024. Sales of Chinese hybrids, which are not subject to the new tariffs, have surged. Western carmakers are also coming up against fast-growing Chinese ev brands elsewhere in the world.Eventually evs will become the cheaper option for customers, as production expands and costs fall. Western carmakers must therefore perform a tricky balancing act, profiting now from petrol cars while investing enough to stay competitive in evs. Those that slow down risk giving their competitors an unassailable lead.
According to fool49:
With EU reducing ambitious targets for reducing automotive emissions, and USA rolling back EV incentives, they are giving up the global EV market to the Chinese.
Reference: Economist
Western economies, surrendering the future global EV car market, to the Chinese
byu/fool49 ineconomy
Posted by fool49
1 Comment
Don’t worry, the US can just rely on the massive system of high speed rail and local subway systems that we built in the last couple decades.
Or if we didn’t build that, for some reason, we could instead outlaw Chinese EVs and their enormous consumer surplus.