this post was submitted on 11 May 2024
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Automotive Industry
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To be fair, China is massively subsidizing those manufacturers. Sky high tariffs are a pretty standard response to anti-competitive practices.
The barrier to domestic EVs is that dealers and manufacturers don't like them because of the lower maintenance. We need to tighten efficiency standards to provide better motivation.
This has nothing to do with the economy as a whole which is doing great by all the standard metrics. It's not great for those at the bottom, but they aren't the market for new vehicles.
Just Tesla gets $1.8b in subsidies per year from US government alone.
https://newrepublic.com/article/175397/teslas-cheaper-now-thanks-subsidies-musk-hated
China has spent $57 billion over 7 years on EV subsidies. The US subsidies are buyer incentives which, until recently, were available for foreign vehicles as well. A Tesla sold in China does not get subsidized. Chinese subsidies have included large direct subsidies on the manufacturing.
I personally see direct subsidies to corporations as a last resort since corporations seem to use them for nothing but stock buy-backs.
Sounds like China wanted it more.
China has surpassed the West in EV adoption and electrification overall, and we are here eating Play-Doh in our Cybertrucks.
Certainly, but that doesn't mean the US can be dependent on China for it's transition. As stated further up, I am very much in favor of government intervention to force auto makers to sell a lot more electrics. The current regulations are terrible.