Reported about 1 year ago
In June 16, 2024, it was stated that electric vehicles might become the next geo-political battleground after semiconductors. The competition between the US and China intensified, with President Biden imposing punitive tariffs against key Chinese industries, particularly raising taxes on electric vehicles by 4 times to 102.5%. The EU also announced additional tariffs on Chinese-made electric vehicles, and the battle between Tesla in the US and various Chinese electric vehicle manufacturers like BYD, NIO, XPeng, etc., intensified. Different regions are striving to gain dominance in the evolving electric vehicle market, with key components like batteries, motors, and controllers playing crucial roles in the strategic positioning of electric vehicles.
Source: YAHOO