Reported about 12 hours ago
BYD and Tesla are poised to be the primary victims of Mexico's proposed 50% tariff on cars imported from China, which is expected to hinder the growth of the electric vehicle market in the country while benefitting established U.S. automakers like General Motors, Ford, and Stellantis. This move, pending Congressional approval, threatens to undermine BYD's rapid expansion in Mexico and complicates Tesla's operations, particularly as both companies have faced challenges in establishing factories in the region. Analysts suggest this tariff could significantly reshape North America's car market.
Source: YAHOO