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.
China’s lead in electric vehicle technology, which is already huge, could become insurmountable if incentive programs are slashed, auto experts and environmentalists say.
Ford Motor said it would open a new plant in Michigan that could become ineligible for federal incentives under a policy bill championed by President Trump and passed by the House.
Automakers and car buyers are taking a second, harder look at hybrids after leaving them behind for electric vehicles.
Battery companies are slowing construction or reconsidering big investments in the United States because of tariffs on China and the proposed rollback of tax credits.