From Investing.com: 2024-04-14 00:00:31

Chinese electric vehicle (EV) maker Nio’s founder, William Li, called for openness in the United States for all EV brands. Li cited Tesla’s success in China, where it sold 1.36 million EVs in three years, energizing the industry. Tensions are rising between China and the West over Chinese EV exports due to subsidies. European Union is investigating Chinese EV makers BYD, Geely, and SAIC.

Chinese EVs face steep tariffs in the U.S., where few are sold. President Biden is considering raising tariffs on Chinese EVs. Nio is studying the feasibility of selling in the U.S. In the first quarter, Nio sold 30,053 EVs in China, compared to Tesla’s 132,420 vehicles. ($1 = 7.2371 renminbi)



Read more at Investing.com: China EV maker Nio urges openness in US speech amid tensions By Reuters