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Chinese EV Makers Look to Africa as Alternative Market Amid Tariffs

2024-07-05 08:56:35.838000

China's electric vehicle (EV) makers are turning their attention to Africa as an alternative market after facing increased tariffs on Chinese EVs in Europe and the US. The European Commission recently imposed additional tariffs of up to 38% on imported Chinese EVs, while the US announced plans to quadruple duties for Chinese EVs from 25% to 100%. These tariffs have been seen as protectionist policies that are pushing Chinese companies to explore other overseas markets. Chinese EV brands, including BYD, Geely, Dongfeng Motor, Great Wall Motor, and SAIC Motor, are now targeting countries in Africa, Southeast Asia, South America, and some European markets. [0b82e313] Chinese automakers see Africa's nascent EV market as a potential growth opportunity. Neta Auto vice-president Zhou Jiang referred to the tariffs as protectionist policies and stated that they are driving Chinese companies to explore other overseas markets. Africa has been identified as a promising market due to its growing population, increasing urbanization, and rising demand for cleaner transportation options. Chinese EV giants BYD, Geely, Dongfeng Motor, Great Wall Motor, and SAIC Motor are all eyeing Africa's EV market. [0b82e313]

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