The Chinese auto industry is the largest in the world, and roughly 30 percent of the country’s vehicle sales are electric.
Most of the world’s EV batteries are manufactured in China, and many of the country’s most popular models have been praised for their design, functionality, and price.
Earlier this year, Tesla CEO Elon Musk — who sells most of his cars in China — warned that Chinese manufacturers would “demolish” domestic rivals without trade barriers.
The concern is that Chinese EVs are so cheap — BYD’s Seagull sells for around $10,000 — that domestic automakers couldn’t possibly compete.
And earlier this year, the administration launched an investigation into the potential security risks posed by smart car technology produced in China.
The new tariffs are also expected to apply to other clean energy goods, like solar panels and critical minerals, the Journal reports.
The original article contains 480 words, the summary contains 138 words. Saved 71%. I’m a bot and I’m open source!
This is the best summary I could come up with:
The Chinese auto industry is the largest in the world, and roughly 30 percent of the country’s vehicle sales are electric.
Most of the world’s EV batteries are manufactured in China, and many of the country’s most popular models have been praised for their design, functionality, and price.
Earlier this year, Tesla CEO Elon Musk — who sells most of his cars in China — warned that Chinese manufacturers would “demolish” domestic rivals without trade barriers.
The concern is that Chinese EVs are so cheap — BYD’s Seagull sells for around $10,000 — that domestic automakers couldn’t possibly compete.
And earlier this year, the administration launched an investigation into the potential security risks posed by smart car technology produced in China.
The new tariffs are also expected to apply to other clean energy goods, like solar panels and critical minerals, the Journal reports.
The original article contains 480 words, the summary contains 138 words. Saved 71%. I’m a bot and I’m open source!