The American automaker said the cost-cutting measure would help it compete with Chinese rivals in the face of slowing demand for electric vehicles.
China enfrenta un panorama económico complicado, pero su dependencia de los mercados estadounidenses se ha reducido y parece estar tomando medidas para el crecimiento interno.
The Chinese economy is more dependent on exports, making tariffs more potent, yet it’s less reliant on American markets and increasingly bent on self-sufficiency.
The tariffs, some as high as 45 percent, are intended to protect Europe’s automotive sector, but they could escalate a trade war with China.
Weeks after Europe imposed additional tariffs on electric vehicles made in China, the country’s car companies were defiant at France’s leading auto event.
Beijing’s action came days after European nations moved toward tariffs on electric vehicles from China, and it included a threat to also hit pork and car imports.
Beijing’s action came days after European nations moved toward tariffs on electric vehicles from China, and it included a threat to also hit pork and car imports.
European Union officials say the duties are meant to protect the region’s automakers from what they say are unfair trade practices in China.
The European Union is expected to support wielding tariffs on electric vehicles made in China, seeking to prevent unfair competition.
BYD, which leads China’s electric vehicle sector, is constructing a plant in Hungary while its Chinese rivals expand through joint ventures in Europe.