Ford, which once had a lead on other established automakers, said on Monday that it will use new materials and methods to lower the costs of electric vehicles.
Smothering electric vehicles might have been a regrettable mistake for a Republican to make 10 years ago. Today, it is economic idiocy.
But automakers can’t absorb the cost forever and will soon begin to raise new car prices, analysts say.
The company estimated that duties on imported cars and car parts would cost it $2 billion this year.
China wants to dominate the market for the cars of the future, and it has set its sights on Brazil’s giant auto market.
As the likes of Ford and Mercedes retreat, Great Wall Motor and BYD are building factories and bringing affordable EVs and hybrids to one of the world’s biggest markets.
As the likes of Ford and Mercedes retreat, China is building factories and bringing affordable electric vehicles and hybrids to one of the world’s biggest markets in Brazil, and ultimately, the rest of Latin America. Somini Sengupta, our international climate reporter, explains.
The Commerce Department plans to impose a 93.5 percent levy on Chinese graphite, an essential ingredient in the batteries that power electric vehicles.
Slight changes to the big budget bill left the factory’s tax credits intact, according to the carmaker, which will use the batteries to make more affordable electric vehicles.
China’s national champion carmaker BYD embodies a state-led industrial model that America may no longer be able to compete with.