The Impact of China’s EV Boom, Explained | WSJ

Chinese car companies like BYD are ramping up EV production and are already flooding Europe with cheap and advanced models. The U.S. is now worried that the flood of automobiles will soon reach American shores and hurt domestic automakers. Elon Musk warned these companies will “demolish” global rivals like Tesla if trade barriers are not put in place.

WSJ’s Yoko Kubota traveled to China’s eastern city of Hangzhou to visit an EV graveyard.

Chapters:
0:00 China’s EV graveyards
1:11 Overcapacity
2:28 Beijing Auto Show 2024
4:17 Takeaways

WSJ Explains
News moves fast, and there's not always time to untangle the complex forces driving the day's biggest stories. WSJ Explains breaks down big market moves, business and economic trends, and scientific developments to help you stay ahead of the curve.

#China #EV #WSJ

[Jeremy-qn]

i spotted many cars in the scenes with blue license plates assigned to gasoline car, which means these were gasoline cars instead of EVs. EVs were assigned green license plates instead in China.

[wanglius]

Ask anyone living in Hangzhou and you can get the answer. Untill 10 years ago, the Chinese gov was promoting EV manufacturers with credits they could basically use as cash. But the subsidies were only available when an EV was actually sold. So the manufacturers set up fake rent-a-car companies and purchased their own electric cars at unreasonably high prices, only to get the creadits. Many of those "sold" EVs didn't even have their batteries installed. The gov quickly found out about this scam and changed the subsidy system, leaving those EVs in graveyards.

[hongyu-he]

This is a scrapped taxi, which has usually traveled hundreds of thousands or even millions of kilometers.The law requires compulsory scrapping.

[kennyy]

If BYD is not welcome to USA, pls come to OZ, Aussies really need high-quality and low-cost EVs. more choices, why not?

[jasonzhou]

Blue plates are ICE vehicles… u went to the wrong graveyard lol

[rollingdownfalling]

Even with the new tariff, it is still quite affordable at not even $20k.

[guilhermetavares]

The Brazilian government also applied tariffs, but Chinese companies bought local factories. BYD bought a former Ford factory, GWM a Mercedes plant and Chery already operates in the country.

[PrideWang]

Chinese electric vehicles have green license plates. What do the bunch of blue license plates you took in front of you mean?

[sukarno]

Looks like the 1.6 Billion propaganda info ops is well spent. Can't even get the blue/green plates info right. 😅

[StarwoodTech]

Even at 100% tarrif, they can still beat GMs cheapest EV. If tarrifs are they only way you can compete, your company is already tanking. Full stop. Get your house in order or shut yourself down and move over.

[quickly]

Is this media does know the ev’s plate is green😂???

[BluffTrail]

Cheap but not good. Batteries lacking potential.

[Sniper]

China is not worried on US market and their tariff. There are asian markets and European markets where US have no control of trade tariff. No one can stay on top forever in the game.

[lovechineseforever]

ELON MUSK SELL SNAKE OIL. ELON MUSK WANTS TO SCREW TAYLOR SWIFT TOO.

[jamsbong]

This is the reality of EV. They don't last as long as an ICE car and ends up as piled up waste shown on this video.

[Dihorse]

An US media and an Indian commentor talking down on China EV market and not even dare to reveal the fact that China's annaul EV sales, installed base and number of public chargers are at least 6X+times that of US (source: IEA) .😂😂😂

[jamaljames]

Always watching from Georgetown Guyana south America 🇬🇾🇬🇾

[chrisnewman]

America would love to have this problem the only difference is that that they find a way to sell off the older cars. and auto bosses would love this level of automation in their plants.

[adriancooper]

They can't stop the Chinese automakers!!!

[EcomCarl]

The rapid expansion of China's EV industry poses significant challenges and opportunities for global automotive markets. 🚗 The strategic positioning of Chinese manufacturers and the response from the US highlight the complex interplay of innovation, competition, and regulation shaping the future of the automotive sector.