Some Chinese electric vehicles will remain cheaper than their closest American competitors even after an 100% tariff imposed by US President Joe Biden takes effect in late September.
There is currently no US EV that falls below a mass market price of $30,000, according to Nikkei, and a BYD EV will remain the cheapest on the US market after tariffs.
Part of the reason why is China’s leadership in developing EV batteries, enabling companies like BYD to produce low-cost cars that can cover a similar distance on a single charge as a more expensive American equivalent, like Tesla. “The reality now is that there is no supply chain in the U.S. for mining and processing battery materials,” one automobile executive told Nikkei.
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