Chinese EVs Still Amazingly Cheap

Car companies selling vehicles in the US have a problem. Even with a 100% tariff, high-quality Chinese cars are inexpensive. Semafor states, “Some Chinese electric vehicles will remain cheaper than their US competitors even after a 100% tariff imposed by President Joe Biden takes effect in late September. Well under the mid-market price of $30,000, a BYD EV at $12,000 with the tariffs imposed would be more affordable than a Tesla, an industry researcher told Nikkei Asia.”

The average price of a new EV sold in the US is $55,000. 

Chinese Factories

Fortunately, these Chinese EV companies do not have factories in the US or, as a potential way to enter the North American EV market, Mexico. 

Price, along with range and charging stations, has been a significant barrier to EV sales in the US. Even with more stations, some are crowded, and others do not work or have been vandalized.

If Chinese EV companies move into the US with cheaper cars, there may be a financial incentive to quickly raise the number of charging stations.

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