Part 5/10:
In May 2024, the United States took decisive action by imposing a 100% tariff on all imported Chinese electric vehicles. As a result, the effective sales price for these vehicles in the U.S. market has doubled, causing a substantial decline in interest among American consumers.
Meanwhile, similar investigations are being conducted in the EU, which represents the biggest market for Chinese EV exports, accounting for about 40% of sales. Data shows that over the past five years, imports of Chinese electric vehicles to the EU have skyrocketed, going from less than 100,000 units in 2018 to more than 2.4 million by 2023.