Chinese automakers are looking to flood the United States market with cheap Electric Vehicles (EVs) as President Joe Biden’s administration has made a rapid all-electric, green energy push without having first ensured domestic manufacturing capacity.
According to Axios, Chinese automakers like BYD Co. Ltd., Li Auto, Xpeng Motors, Nio Inc., and Geely are looking to the U.S. market to sell cheap EVs to Americans as the Biden administration makes its push for an all-electric economy.
“William Li, CEO of Chinese EV company Nio, recently told the Financial Times that the U.S. should offer Chinese EVs equal access to the American market, arguing that carmakers shouldn’t be victims of U.S.-China political tensions,” Axios reports:
In fact, some China-built cars are already for sale in the U.S. under Western brands, including the Buick Envision, Polestar 2 and soon, the Lincoln Nautilus. And China’s BYD is already the largest manufacturer of electric buses in North America. [Emphasis added]
Chinese automakers will likely follow the same script as Japanese and Korean brands decades ago: Use imports to exploit a void in the U.S. market, learn quickly and then go deeper with factories on American soil.
[Emphasis added]
Original Article: https://www.newswars.com/report-china-looks-to-flood-u-s-market-with-cheap-electric-vehicles/
