Chinese EV’s Coming to the USA – Will it Destroy The Car Market
Chinese electric car Giants are planning on building cars in Mexico and importing them across the border and finally the US is noticing this in my opinion this is a holy crap moment if China starts building cars in Mexico and is able to import them to the US with the tax
Credit because of the way we have things designed in our infrastructure bill and the way it’s written it could destroy the US Auto Market three major Chinese EV car companies are planning new factories in Mexico and this is per the financial times this includes Tesla rival byd fellow Giants mg which is
Actually s AIC they use the name mg the British car company and Cherry are in talks over new sites in Mexico and they’re planning to make these pretty automated plants and this is pretty alarming to us officials the move will likely fuel fears that the Chinese firms
May use Mexico as a back door into the US EV Market oh yes that is their plan and the price will be lower than what’s on the market today now this may sound amazing for consumers but there’s a lot of negative impact you might be missing this investment is causing angst in
Washington as it seeks to keep China out of the US electric car market remember that China controls the bulk of battery materials used in electric vehicles us officials have reportedly raised concerns with their Mexico counterparts over the Chinese investment with the new sites potentially including a new 1.5
Billion to $2 billion plant for MG Electric Car Factory and a factory investment additional for byd which is a Warren Buffet Beck car company that competes against Tesla and they’re huge they’re the biggest one out there China’s electric vehicle Market is booming and local manufacturers are increasingly looking to expand overseas
Amid Cutthroat competition for customers back home and China also dominates the global electric vehicle battery supply chain allowing it to produce far cheaper EVS than many of its us Rivals and that is a concern the US has attempted to protect the US market Market by unveiling new rules earlier this month
To make it more difficult for EVS made in with Chinese parts to qualify for tax breaks but the possible expansion of Chinese automakers into Mexico which recently replaced China as the US biggest trading partner will fuel fears that it could serve as a back door very smart of China but also extremely
Concerning for lawmakers on a select committee on China recently warn stronger trade rules may be needed to prevent China and their automakers from Gaining back door to the US market through its trading partners and destroy the US car market Mexico has proven a tempting Target for car makers in recent
Years thanks to the low labor costs the Free Trade Agreement in the US and no UAW unions so the costs are substantially less Tesla is planning to build a giga Factory near Monterey Mexico where it’s expected to produce the long- awaited $25,000 electric car which is a great way to cut costs Now
Chinese EVS are pouring into Europe with one really big reason they can charge twice as much for their vehicles for example a byd dolphin costs about $15,500 in China but it sells for $39,000 in Europe and Tesla’s China made model 3 sells for 13,000 more in Europe
Than it does in China even though Chinese automakers double the price they’re still selling e cheaper than what European automakers are charging and aside from shipping costs and a 10% import tariff these higher prices are pure profit for China and that’s why Chinese eveve makers are flooding into
Europe and soon they’re going to try and flood into the us and this is not good for our economy for our workers or for the Auto industry for more than a decade China’s car manufacturers had a presence at the main Auto shows in the United States with promises they’d be here in
2018 2019 we’re going to sell models even into 2020 well obviously those plans didn’t pay off but this new strategy could change everything very soon by building electric vehicles in Mexico Chinese car companies could enter the US market under more favorable conditions according to the agreement between the United States in Mexico and
Canada 75% of the vehicles must be manufactured in North American region for its manufactured to avoid paying import duties and although there are currently no Chinese car brands available for purchase in the United States vehicles made in China are already sold in the United States mainly under Swedish brand Volvo and its new
High performance division postar so with one foot already within North American Zone Chinese cars are much closer than you might have already imagined and don’t be surprised if someday and some point a Chinese car wins Car of the Year truck of the year or SUV of the year but
Are consumers willing to buy a car that says made in China well that’s for you to decide let the free market rain but be forewarned if you destroy our car market to go for a Chinese car where no jobs are coming here this could could be
A real problem if you like this video give it a like And subscribe for more videos like this one if you have any comments or questions I’m sure you will I’ll be more than happy to answer you can support me by buying me a cup of
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Chinese electric car giants are building in Mexico, it’s alarming the USA! Holy crap, if China starts building cars in Mexico, and is able to import them to the US with the tax credit because of the way, the infrastructure bill is written it will destroy the US auto market.
Three major Chinese EV companies are planning new factories in Mexico, per the Financial Times. This includes Tesla rival #byd, fellow giants MG (SAIC) and Chery are in talks over new sites in Mexico and this is alarming US officials. The move will likely fuel fears that Chinese firms may use Mexico as a backdoor into the US #ev market. And the price will be lower than what’s on the market today. This may sound good for consumers, but there is a lot of negative impact you may be missing.
This investment is causing angst in Washington as it seeks to keep China out of the US electric car market. Remember that China controls the bulk of the battery materials used in electric vehicles. US officials have reportedly raised concerns with their Mexican counterparts over Chinese investment, with the new sites potentially including a new $1.5 to $2 billion MG electric car factory and a factory investment worth hundreds of millions of dollars from Warren Buffett-backed Tesla rival BYD.
China’s electric vehicle market is booming, and local manufacturers are increasingly looking to expand overseas amid cutthroat competition for customers back home. China also dominates the global electric vehicle battery supply chain, allowing it to produce far cheaper EVs than many of its US rivals.
The US has attempted to protect the US market by unveiling new rules earlier this month to make it more difficult for EVs made with Chinese parts to qualify for tax breaks. But the possible expansion of Chinese automakers into Mexico, which recently replaced China as the US’ biggest trading partner, will fuel fears that it could serve as a backdoor.
Lawmakers on a select committee on China recently warned that stronger trade rules may be needed to prevent Chinese automakers from “gaining a backdoor to the US market” through its trading partners.
Mexico has proven a tempting target for carmakers in recent years, thanks to its low labor costs and a free-trade agreement with the US and UAW. #tesla is planning to build a gigafactory near Monterrey, Mexico, where it is expected to produce its long-awaited $25,000 electric car.
Chinese EVs are pouring into Europe for one really big reason. They can charge twice as much for their vehicles. For example, the BYD Dolphin costs $15,500 in China but it’s $39,000 in Europe. Tesla’s China-made Model 3 sells for 13,000 euros more in Europe than it does in China. Even though Chinese automakers double the price, they’re still selling EVs cheaper than what European automakers charge. Aside from shipping costs and a 10% import tariff, those higher prices are pure profit. And that’s why Chinese EVs are flooding into Europe.
For more than a decade, China’s car manufacturers had a presence at the main Auto Shows in the United States with promises that they would start selling their models in this market back in 2022. Obviously, those plans didn’t pay off, but his new strategy could change everything very soon.
By building electric vehicles in #mexico Chinese car companies could enter the #usa market under more favorable conditions. According to the Agreement between the United States, Mexico and Canada, 75% a vehicle must be manufactured in the North American region for its manufacturer to avoid paying import duties and although there are currently no Chinese car brands available for purchase at United States, vehicles made in #china are already sold in the United States, mainly from the Swedish brand Volvo – and its new high performance division Polestar.
So with one foot already within the North American zone, #chinese cars are much closer than you might have imagined, and don’t be surprised if at some point in a Chinese car wins the prize for #car #truck or #suv of the Year.
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