Zooming Past Tariffs: China's EV Exports Still Accelerate! 🚗💨
The United States recently cranked up tariffs on products imported from the Chinese mainland, aiming to protect its strategic industries. Among these changes, a hefty 100% tariff on Chinese-produced electric vehicles (EVs) took effect on September 27.
But guess what? This move seems to have barely put a dent in China's booming EV export scene! 🌟
While the U.S. might be trying to block Chinese EVs from hitting its roads, the impact is minimal. That's because the U.S. market represents just a tiny fraction of China's EV exports. In 2023, only 12,500 Chinese EVs were exported to the U.S., accounting for less than 1% of total exports. Talk about a drop in the ocean! 🌊
China's EVs are making waves elsewhere, especially in ASEAN and EU countries. From January to August, China exported a whopping 1.31 million EVs, marking a 25% year-on-year surge! 📈
With EV penetration rates still low in major countries, there's massive room for growth. This means China's EV exports are set to keep on zooming ahead in the coming years. Ready to see more Chinese EVs on roads worldwide? Buckle up! 🌍🚘
Reference(s):
cgtn.com
