China is leveraging there economy on EVs. Xi stated his plan was to spend spend spend, with a focal point on EVs. Not having access to the richest market in the world. If you say your not scared, your ether bluffing, pigheaded or stupid.
The US closing off its market was totally predictable and has been priced in. You'll notice that no Chinese EV makers made any plans to export directly into the US, even as they were selling around the world.
The US market is significant, sure, but the US car industry could easily end up where its shipbuilding industry is: hanging around thanks to government protection, catering to the domestic market, but a bit of a joke by global standards.
Shipbuilding and car manufacturing both have extensive defense applications. They'll keep both around because if there's a war they need a local industry.
Good for them
(/s)
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