One major problem for automakers as they transition to electric vehicles is that traditional cars still generally cost less. That matters to everyday car shoppers trying to make ends meet. In China, however, EVs are actually more affordable than gas guzzlers. And increasingly, Chinese EVs are being exported to markets around the world and sold … Read more
Ford CEO Jim Farley is worried about competition from China’s electric vehicle makers. Chief among the threats is BYD—backed by Warren Buffett’s Berkshire Hathaway—which can produce vehicles at significantly lower costs than industry norms, partly because it owns the entire supply chain for its batteries, which account for roughly 40% of a new EV’s price. … Read more
“If there are no trade barriers established, they will pretty much demolish most other car companies in the world,” Tesla CEO Elon Musk told investors last month. “They’re extremely good.” Tesla was recently overtaken by China’s BYD—backed by Warren Buffett’s Berkshire Hathaway—in global sales of electric vehicles. Some of the nicer electric vehicles made in … Read more