From Yahoo Finance: 2024-04-14 10:29:20

Chinese EV maker Nio’s founder, William Li, advocates for openness in the EV market during a speech at Harvard University. He highlights Tesla’s success in China, selling 1.36 million EVs in three years. Li believes competition will drive investment and benefit the industry, despite tensions over Chinese EV exports to the West.

The EU is investigating Chinese EV makers like BYD, Geely, and SAIC for alleged subsidies, potentially leading to tariffs. Few Chinese-made EVs are sold in the U.S. market due to existing tariffs. President Biden is considering raising tariffs on Chinese EVs, citing concerns over national security and market competitiveness.

Nio, China’s biggest EV maker, is exploring the possibility of selling in the U.S. market on a quarterly basis. In China, Nio sold 30,053 EVs in the first quarter, while Tesla sold 132,420 vehicles. The cost of Nio’s lineup starts at 298,000 yuan ($42,000) in the premium segment.



Read more at Yahoo Finance: China EV maker Nio urges openness in US speech amid tensions