Tuesday, June 18, 2024

China EV makers rush cars to Mexico and Brazil amid tariff concerns

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PALO ALTO, California/TAIPEI/TOKYO — Chinese EV makers including BYD are rushing to ship vehicles to Mexico and Brazil in preparation for tariff hikes and other trade restrictions, Nikkei Asia has learned. That comes as Washington announced 100% tariffs on Chinese EVs on Tuesday, a move that is expected to be followed by more trade actions aimed at electric vehicles from China by the U.S. and its allies.

The rush-transportation of EVs from China to Brazil and Mexico began in March and will continue into June, a source in the shipping industry familiar with the situation told Nikkei Asia.

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