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Biden really, really doesn’t want China to flood the US with cheap EVs (www.theverge.com)

submitted 6 months ago by [email protected] to c/[email protected]

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[–] [email protected] -1 points 6 months ago* (last edited 6 months ago) (1 children)

The US doesn't control the supply chains. Biden subsidizes EVs as well. US labor is too expensive and the resale value of EVs are very poor. If there is a country that can make EVs cheap enough, it is China. The EU and US stand no chance. Even with safety standards and 27% tariffs, Chinese cars are still cheaper, and the quality is good. US currency is artificially too high. US traded in their manufacturing for financialization. This is a case where Joe Biden can't beat the global market, with the rest of the world buying China. American EVs are a flop.

[–] [email protected] 1 points 6 months ago

It's not US labor that is the most costly, it's US executives and c-suites