Chinese EVs are making inroads in North America. That worries industry experts
AP News • • business
Key Points:
- Chinese automakers are gaining global market share with affordable, high-tech electric vehicles (EVs), posing a significant threat to U.S. and other Western automakers, especially as China’s domestic market weakens.
- Canada recently agreed to reduce tariffs on Chinese EVs in exchange for concessions on Canadian farm products, easing Chinese automakers' access to North American markets and raising concerns among U.S. officials.
- Chinese EVs stand out due to their competitive pricing ($10,000-$20,000), advanced software features, and efficient manufacturing, particularly in small and mid-sized vehicle segments largely abandoned by U.S. automakers.
- The global shift toward electrification favors Chinese automakers, who saw substantial growth in EV sales,
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