How China’s EV market could endure higher tariffs

Marketplace Tech

American Public Media

Technology, News

4.6 • 1.2K Ratings

🗓️ 27 December 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It’s fair to say China dominates in electric vehicle sales. The country is the world’s biggest consumer of electric cars and has dozens of automakers competing in the space. Last year, Chinese companies sold about 9.5 million EVs and plug-in hybrid cars. But the industry faces mounting trade pressures. The Biden administration imposed a 100% tariff on Chinese EVs which President-elect Donald Trump is expected to continue. Meanwhile the European Union recently raised tariffs up to 45%, citing concerns that Chinese government subsidies give the companies an unfair advantage. Subsidies certainly help but there are other factors giving Chinese EV’s an edge. Marketplace’s Meghan McCarty spoke with Marketplace’s China correspondent Jennifer Pak about how those factors could keep Chinese EV makers competitive, even in a more restrictive global market.

Transcript

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0:00.0	Hey, everybody, it's Kai. Time is running out to give a tax-deductible donation to Marketplace before
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0:13.4	Go to Marketplace.org slash donate and invest in news you value and trust. That's Marketplace.org
0:19.8	slash donate, or you can follow the link in the show notes.
0:24.3	The Road Ahead for Chinese EVs.
0:28.2	From American Public Media, this is Marketplace Tech.
0:31.4	I'm Megan McCarty Carrino. It's fair to say China dominates EV sales.
0:46.3	The country is the world's biggest consumer of electric cars
0:49.7	and has dozens of automakers competing in the space.
0:54.1	Last year, Chinese companies grabbed about two-thirds of global EV sales,
0:58.5	equalling about nine and a half million cars.
1:01.6	But the industry faces mounting trade pressures.
1:05.0	The Biden administration imposed a 100% tariff on Chinese EVs,
1:10.1	which President-elect Trump is expected to continue. Meanwhile,
1:13.9	the European Union recently raised tariffs up to 45%, citing concerns that Chinese government subsidies
1:20.7	give the companies an unfair advantage. Subsidies certainly help, but there are other factors giving Chinese EVs an edge,
1:30.4	according to Marketplace's China correspondent Jennifer Pack.
1:34.0	She said Chinese EVs could remain competitive, even in a more restrictive global market.
1:39.9	There are multiple factors, and different people will emphasize different points to it.
1:44.0	So one of the
1:45.1	things is China has a complete supply chain. It has cheap labor. There's fierce competition amongst all
	...

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