EU slaps tariffs on Chinese EVs, risking Beijing backlash
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Posted on 10/29/2024 7:47:07 PM PDT by RomanSoldier19
General Motors CEO Mary Barra said there are so many companies trying to sell EVs in China right now that it's driving a price war that isn't sustainable.
Barra made the comments at the TechCrunch Disrupt conference in San Francisco on Tuesday, responding to a question about the explosion of EV sales in China. More than 120 brands sold EVs in China in 2023 compared to around 60 in the US — putting into perspective just how much competition there is for GM and other manufacturers.
The EV market in the country is oversaturated, Barra said Tuesday, echoing comments she's made recently. She said the EV business in the country was "shifting dramatically" — and that "lower and lower" prices being driven by such competition will become untenable.
"From a China perspective, EV adoption has been heavily regulatory-driven," Barra said, referring to the Chinese government's push for EV adoption. "But what also has occurred is there are over a hundred Chinese OEMs right now, primarily focused on EVs," she said. OEMs are "original equipment manufacturers" that create parts for other businesses to use in their products.
(Excerpt) Read more at msn.com ...
EU slaps tariffs on Chinese EVs, risking Beijing backlash
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"Since they can make junk electric cars in China to compete with the junk electric cars we make, we can't sell ours."
It is time for GM to slash their prices on their vehicles here.
American voters could have told her this.
Instead she listened to Biden and her DEI HR dept.
I think she was also one of two or three female ceos that also said profit margins in Covid times were so good she planned to keep inventory artifically low
They can eat the hem for all I care
I keep hearing that brand new EVs are piling up because not many Chinese want them. Somebody’s lying or exaggerating.
Chicom government underwrites EV manufacturing.
None of the companies actually make money on them. Government covers them.
Asymmetric economic warfare.
EU might fall for it.
More than 120 brands sold EVs in China in 2023 compared to around 60 in the US
TOBBI 12V Kids Ride On Car, Electric Off-Road UTV Truck With Forward And
If only there was some sort of system or standard or principle that could solve this problem… 🤔
Obama appointed General Motors CEO Mary Barra said...
She says what obama tells her to say.
It depends on your national objectives. If you’re China and you want another 200 million people to be able to commute, you will subsidize the production of cars. If you’re silly westerners who tells people that gasoline engines will kill the fish, then you take the bribes from China who will try to make up the domestic subsidy via exports.
China can do what it wants. It can choose electric cars, and build nuclear plants to power them. We in the US and EU don’t care what is the best interest of the nation. We are mostly closing nuclear plants while simultaneously demanding more electrification. It’s a dead end but our politicians are in someone’s pocket.
As of December 2023, China had the largest stock of highway legal plug-in passenger cars with 20.4 million units, almost half of the global fleet in use.
China also has a 58% share of the global EV market. They must have excellent infrastructure to support all their charging needs.
I find their vacuum tube maglev train developments fascinating. A train that can go over 600 mph. I would be terrified in one.
60? No. But there’s a few off the top of my head: Tesla, Rivian, Hyundai, Honda, Toyota, BmW, Mercedes, GM, Ford, Audi Porsche (and Volkswagen and Audi)) and a few others I just can’t pull the names without searching… plus some of these companies own different brands or may be subsidiaries, Volvo, Stellantis… Oh there are 2 other domestic EVs at least I just can’t name them lol.
Hmm, now what would they be sacrificing in order to bring the prices down, over and over?
Maybe QUALITY and after sale support?
So the cars are really appliances, use until there is an issue, then just throw them away.
And if the almost certain fires kill a few folk, well China has plenty more to take the victims places.
Who needs to commute at the rate of 600mph?
For some people, that twenty to forty minutes of travel provides a wee bit of down time in a safe place.
“Slow down, you move too fast, Got to make the morning last!”
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