Market share increases after strong demand within country offsets risks from western tariffs on Chinese-made EVs

Summary

China’s share of the global electric vehicle (EV) market surged to 76% in October, driven by domestic demand despite escalating western tariffs.

Between January and October, China accounted for 69% of global EV sales, with subsidies boosting local purchases.

The US and EU have imposed steep tariffs—up to 100% and 35%, respectively—on Chinese EV imports, complicating market access for Chinese automakers. Exports to Russia, however, have soared by 109% over two years.

Beijing has prioritized the EV sector as a cornerstone of its economic and green transition strategy.

  • mrmhm@lemmy.world
    16·
    22 days ago

    This is the problem with protectionism for the US - you need to have local supply to replace what you block

    • Rentlar@lemmy.ca
      131·
      22 days ago

      Which is why the tariffs have been accurately labeled as a tax by Democrat critics. Because without domestic alternatives it is effectively a foreign goods tax.

    • Diplomjodler@lemmy.world
      7·
      22 days ago

      I’m sure US and EU consumers will be happy to pay more for worse products. We wouldn’t want to cut into the obscene profits of our oligarchs now, would we?

      • Psychodelic@lemmy.world
        11·
        22 days ago

        I see this being repeated, and while I wholeheartedly agree with it (given my interest in seeing low prices for American consumers), anyone wanna comment on the potential outcome of allowing, and financially supporting, China in their strategy to control the EV market? Any merit to those concerned?

        Similarly, any thoughts on Trump making sure they didn’t control 5G?