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The European Union’s new tariffs imposed on Chinese electric vehicles (EVs) will not greatly impact imports from China, according to the view of a former general counsel of the Office of the United States Trade Representative (USTR).
Over the coming years, Western countries will require tremendous volumes of critical minerals given the demand for mineral-rich technologies like electric vehicle batteries.
Japan’s Ministry of Economy, Trade and Industry (METI) has issued a digital transformation (DX) roadmap that aims for Japanese automakers to take 30% of the global market for self-driving software-defined vehicles (SDVs) by 2030.
China’s automotive industry has revolutionized over the past decade, from producing basic Western clones to making cars that equal the world’s best. As the manufacturing powerhouse of the world, China is also producing them in huge volumes.
Granted, Tesla’s share price has bounced on short covering and the return of perennial optimism after dropping by more than 40% since the beginning of the year.
The automotive industry is in a most difficult period of its history. How can it predict the future?
China’s exports fell in March by 7.5% year-on-year, although the fall was mainly due to base effect: Chinese exports spiked in March 2023, so the comparison is distorted by the exceptionally high level of the year-earlier month. In RMB terms, China’s exports continue to follow a rising trend after the big jump between 2019 and 2023.