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Biden really, really doesn’t want China to flood the US with cheap EVs (www.theverge.com)

submitted 5 months ago by return2ozma@lemmy.world to c/technology@lemmy.world

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[–] yogurt@lemm.ee 9 points 5 months ago

They aren't exporting them below cost, that's why they want to export. Inside China every company tried to start an EV division because they heard Apple was doing it and assumed it must be a good idea. Now the market is topped out and the biggest companies are trying to price the smaller ones out of business (which still isn't below manufacturing cost because China regulates that and is nervous about having tons of cars from bankrupt companies on the road). They export with a huge profit margin to make up for the domestic price war.