Chinese EVs deemed status symbols sold abroad via loophole
From Fortune:
1. Tesla CEO Elon Musk told investors that without trade barriers, Chinese EV firms will dominate the global electric vehicle market.
2. China’s BYD surpassed Tesla in global electric vehicle sales.
3. Traders are buying and reselling trendy Chinese electric vehicles to eager buyers overseas.
4. Buyers can acquire high-end Chinese electric vehicles through a grey market, but technical difficulties may occur without a local presence from the carmaker.
5. The desire for Chinese electric vehicle models in different nations showcases Chinese carmakers’ ability to compete worldwide.
6. Musk predicts that Chinese companies will dominate the global automotive industry, and Ford’s Chairman says U.S. automakers need to be ready to compete with Chinese rivals.
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