EU taxes on Chinese built EVs - why and what happens next??

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00:00 1970s US Japan taxes
03:57 2020s EU China taxes
08:46 Tax rates per manufacturer
14:28 Chinese cars in the US?

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[jomo]

You're the first car reviewer to talk about how the Japanese went through what the Chinese are going through at the moment.
That's why I like your channel, you're not just about cars, you're intelligent too. Kudos!!

[MithunKalan]

remember the old days where the government said we should get EVs to reduce the CO2

[camilstoenescu]

If I'm not mistaken, the European auto industry is much more dependent on the Chinese market than the other way around.

[trustmub]

So EU does not care about the planet after all.

[zelcpavle]

Thr European car prices are craaazyy !!! They should be ashames how they pumped up the prices...wtf !!!

[pragadoegito]

The result of raising taxes is only one: working class people get poorer

[unreliablenarrator]

Hello. Greetings from Shanghai. Let me offer a Chinese perspective. For about 40 years, foreign car makes, particularly German and American brands, have enjoyed their largest export (and captive import) market in China. In fact, German brands have occupied a privileged position (e.g., our family has a BMW X5 and WV Polo). Now that Chinese produce high quality, competitive EVs, we find the current situation where the EU is raising high protectionist tariffs and USA has not only imposed ridiculously high tariffs, but also "security" barriers to any Chinese cars or automotive products containing electronics - clearly a misuse of WTO rules. Chinese see this for what it is: (1) Protection of local automakers who have slow to adopt EV technology in general for low-priced cars & have less compelling value propositions, (2) in EU, forcing investment in EU plants such as was done with Japanese brands, (3) in USA, where Xenophobic, anti-Chinese sentiments have been stirred-up across the board for political advantage and Joint-Venture investment projects refused on the same "security" grounds, an attempt to kneecap the rise of China, where only Polestar has some meager market and even a CATL battery plant projects in two states have been blocked by local politicians. Adding to the friction is the fact that foreign brands (including Japanese) are loosing market share in China because they simply do not offer competitive EV products and are losing brand mind-share. I assure you the success of Chinese EVs in our domestic market is NOT driven primarily by nationalism as many Americans claim despite Tesla success here, but simply the value proposition of good quality EVs at a bargain price. For example, since China government policy did promote & support developing EV technology, many Chinese start-ups and legacy companies invested in development creating today, a cut-throat market where only the best will survive and companies with poor products or that are under-funded will drop out : exactly what legacy brands in the EU and USA fear, The proof of this is seen in the USA where even Chinese battery companies have been barred from building JV plants under ridiculously transparent "security" sounds (yes, electrodes are spying on loyal Americans) and can only license technology (as CATL has with Ford). I do not think this will succeed to kill the competitive Chinese EV makers, they are already succeeding in markets that do not have high barriers an are building local plants that succeed (for example, Thailand, where they have caught local Japanese competitors off-guard). What will happen is the adoption of EVs in EU and USA will be slow - we can see already the rush to Hybrids as a defensive measure and bending the rules to give local automakers more time. Competitive Chinese brands are here to stay, just as German, Japanese and Koreans before them won global markets based on merit. Thanks for reading and considering my comment

[hyrenaj]

The US is subsidizing its EVs to the tune of $7500 (via material sourcing and manufacturing origin requirements) AND adding a 100% tariff on Chinese cars to stay "competitive"

[Valor]

Well sanctioning means that nor US nor EU can't compete. Therefore the politicians can do is sanction Chinese EV's. In the first hand this will hurt consumers. Chinese EV's are cheaper and from the quality perspective very good and getting better. The less competition you have in a market, the worse it is for a consumer.

[colorant]

When the EU wants to export: FREE MARKET!
When China wants to export: OVERCAPACITY!

[ingmarlangerak]

Fact. European cars are to expensive, especially in the Netherlands! Nuts!

[PicardLock]

More background industry videos please👍. Would love it if you also had access within a manufacturer to give us a snapshot on some part of the development or building of a car. The BMW textile department deep dive you did was great so something along those lines

[joro]

EU antagonizing China... I don't know. Considering the low IQ of current European leadership and size of revenue coming in from China, this might inflict irreversible damage to the German auto industry by escalating into a tit for tat type of situation. I don't know how many cars Germany sells in Japan but in China is way more... incomparably more. China does not tax European vehicles but this will change soon starting with ice engines bigger than 2.5L in addition to EU dairy products and wine. This might escalate into a full blown trade war with China the impact of which we can only guess considering the poorly performing EU economy.

[MrFatpenguin]

Free market for me, taxes for thee. Save the environment, but only when my profits are guaranteed. Capitalism working as expected.

[vasisimari]

Yes I really enjoyed this video. Tell us more about background movements in the automotive industry.

[cos_marc]

Unfortunately German car manufacturers got more and more greedy to increase the year over year profits and be investor pleasers only. When you increase profits from cost cutting and not from innovation, there's only one thing that can happen.
When your cars get built by accountants, not by engineers and client feedback, this is what happens: your money go up in the short-term but down in the long-term... Strategies should be made for 5-10 years not for the next quarter.
They missed the start with EVs and came back with 45k golf (ID.3) and 100K Q6-etron or Taycan... MG4 is selling like crazy while we're still waiting for the ID.2... really, who's the manager that said it's a good idea to get the ID. Buzz out before the ID.2 ....

[Krebs]

These should be a wake-up call and red alarm for eu manufacturers that they are obviously overcharging for their products..

[markosz]

Maybe the European manufacturers should have made affordable and competitive cars for the public instead of horribly overpriced gimmicky cars...
Do politicians think people buy Chinese crap because we like them? No, that's what most people can (barely) afford.

[strawboi]

Hey Thomas, as usual, great video! You’re one of the few who isn’t biased and just tells it like it is. I hope you continue doing that because there are so many opinions in the media that seem skewed. It’s refreshing to see someone who sticks to the facts instead of using data just to push a narrative. So, bravo to you, Thomas!

[comahon]

The Chinese no longer want expensive German imports when they can buy a Chinese made car of similar quality for half the price. Sales of German cars was a massive cash cow for the German car industry and now it’s gone.