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Biden really, really doesn’t want China to flood the US with cheap EVs
(www.theverge.com)
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this post was submitted on 10 May 2024
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"We want expensive American EVs that most people can't afford, not cheap Chinese ones....."
China is subsidizing EV production and selling cars below cost. Allowing them to be sold in the US would kill the domestic EV market. How is that better for Americans?
They aren't exporting them below cost, that's why they want to export. Inside China every company tried to start an EV division because they heard Apple was doing it and assumed it must be a good idea. Now the market is topped out and the biggest companies are trying to price the smaller ones out of business (which still isn't below manufacturing cost because China regulates that and is nervous about having tons of cars from bankrupt companies on the road). They export with a huge profit margin to make up for the domestic price war.