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Should Automakers Feel Threatened by China's Exports of Electric Cars?
The Los Angeles Times reports that the U.S.-China rivalry "has a new flashpoint in the battle for technology supremacy: electric cars." "So far, the U.S. is losing." Last year, China became the world's foremost auto exporter, according to the China Passenger Car Assn., surpassing Japan with more ...
New energy vehicles accounted for about 25% of those exports, and more than half of those were created by Chinese brands, a shift from the traditional assembly role China has played for foreign automakers. One area in which Chinese automakers handily beat Western competitors is on price, thanks to government subsidies that supported the industry's initial rise as well as cheap access to critical minerals and components such as lithium-ion batteries, which account for about a third of the overall cost of production... "When the global market is flooded by artificially cheap Chinese products, the viability of American and other foreign firms is put into question," [said America's Treasury Secretary in April].
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