BYD and Tesla set to lose most from Mexico's proposed tariffs on China: Analysis
- The Mexican government will increase tariffs on Chinese cars from 20 percent to 50 percent, according to Economy Secretary Marcelo Ebrard.
- Mexican President Claudia Sheinbaum stated that the tariff increase is a measure to strengthen the country's economy.
- Tesla, Inc. is facing a continued Sell rating due to a significant drop in sales and profits in Q2.
- Tesla is facing major challenges, including critical delays and eroding market share, which undermine its long-term growth.
19 Articles
19 Articles
Mexico's China tariffs threaten BYD, Tesla
Electric car rivals BYD and Tesla are set to be the biggest losers from Mexico's proposed 50% tariff on autos imported from China, triggering a likely blow to the fast-growing electric car market in Mexico while sparing the traditional "Big Three" US car manufacturers. The proposed tariff, announced on Wednesday, targets electric and gasoline cars imported from all countries that Mexico doesn't have a free trade agreement with, including South K…
Mexico Moves to Raise Tariffs on Chinese Cars to 50 Percent
The Mexican government will raise tariffs on Chinese cars from 20 percent to 50 percent, Economy Secretary Marcelo Ebrard said during an event at Felipe Ángeles International Airport. “I was asked if we are going to apply tariffs on vehicles from Asia, particularly China. I said yes. They already have a tariff. The tariff is 20 percent. Now, what are we going to do? We are going to raise it higher, which is allowed by the World Trade Organizatio…
BYD and Tesla set to lose most from Mexico's proposed tariffs on China
Electric car rivals BYD and Tesla are set to be the biggest losers from Mexico’s proposed 50 percent tariff on autos imported from China, triggering a likely blow to the fast-growing electric car market in Mexico while sparing the traditional "Big Three" U.S. car manufacturers.
Mexico’s 50% Tariff Threatens Tesla and BYD in Booming EV Market
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Between 60 and 70 percent of electric cars are manufactured in China, even if their brand is not identified as Chinese, said Eugenio Grandío, president of the Electro Mobility Association (EMA), to give an understanding of the degree of impact of putting tariffs on electric cars and hybrid cars that enter Mexico.The president of EMA said that currently even if you buy a German or French car, most have batteries from China and South Korea, so in …
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