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- cross-posted to:
- [email protected]
Summary
China’s share of the global electric vehicle (EV) market surged to 76% in October, driven by domestic demand despite escalating western tariffs.
Between January and October, China accounted for 69% of global EV sales, with subsidies boosting local purchases.
The US and EU have imposed steep tariffs—up to 100% and 35%, respectively—on Chinese EV imports, complicating market access for Chinese automakers. Exports to Russia, however, have soared by 109% over two years.
Beijing has prioritized the EV sector as a cornerstone of its economic and green transition strategy.
I’m sure US and EU consumers will be happy to pay more for worse products. We wouldn’t want to cut into the obscene profits of our oligarchs now, would we?
I see this being repeated, and while I wholeheartedly agree with it (given my interest in seeing low prices for American consumers), anyone wanna comment on the potential outcome of allowing, and financially supporting, China in their strategy to control the EV market? Any merit to those concerned?
Similarly, any thoughts on Trump making sure they didn’t control 5G?