Overview

• BYD has surpassed Tesla as the world's top-selling EV maker, with Chinese electric vehicles (EVs) now representing a significant portion of the global market.
• Chinese automakers are planning to circumvent US trade barriers by establishing manufacturing bases in Mexico, potentially gaining easier access to the American market.
• The US auto industry faces an 'extinction-level' threat from low-cost Chinese EVs, backed by substantial government support and comprehensive control over the EV supply chain.
• American car companies are urged to innovate and reduce costs to compete with Chinese EVs, as policymakers consider measures to protect the domestic auto sector.
• The Biden administration is contemplating increasing tariffs on Chinese-made vehicles to safeguard American jobs and the auto industry.