#automotive-competition

#automotive-competition

After years of rapid growth, EV sales in China grew a modest 1% in January, mainly due to the expiration of subsidies in December and the introduction of a new purchase tax in the new year. BYD, the country's dominant automaker that spearheaded China's EV boom, was hit the hardest. Its sales dropped 30% year over year to just over 210,000 units due to changing EV policies and rising competition.

China's electric car industry is on track to swallow the world. But there's one piece of the puzzle that often gets overblown when people discuss the ramifications of these cars potentially being sold in the United States someday. That $10,000 BYD you keep hearing about? Here in the U.S., there's zero chance it would be so astonishingly cheap, for better or worse. There are a few reasons for that.