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.
More from ClimateCrisis 247
- Falling Gasoline Prices Pummel EV sales — And clean air targets are clobbered
- China’s Impressive $10,000 EV
- Europe Will Cripple China EV Imports
- GM EV Sales Battered