Impact of BYD's $12,000 Electric Vehicle on the U.S. Auto Industry

SOURCE www.breitbart.com
BYD, a Chinese automaker, is selling a $12,000 Electric Vehicle that could potentially disrupt the U.S. auto industry. Former President Trump had imposed tariffs on China-made cars to prevent their influx into the U.S. market. President Biden has increased tariffs on China-made EVs, but BYD's plan to produce cars in Mexico might allow them to bypass these tariffs.

Key Points

  • BYD's $12,000 EV poses a threat to the U.S. auto industry due to its affordability and potential market disruption.
  • Tariffs imposed by both former President Trump and President Biden aim to protect American auto workers from unfair competition.
  • BYD's strategy to produce EVs in Mexico might allow them to bypass the increased tariffs on China-made cars.

Pros

  • BYD's affordable Electric Vehicle could provide consumers with a cost-effective option for environmentally friendly transportation.

Cons

  • The entry of BYD's EVs into the U.S. market at low prices could potentially harm American auto workers and the domestic auto industry.