Donald Trump’s invitation to Chinese carmakers might boost US transition to EVs

Quick Summary:

The Republican presidential nominee may still disdain electric vehicles but encourages their manufacturers to build plants in the United States.

In 2022, US President Joe Biden’s Inflation Reduction Act vastly expanded battery and EV tax credits to reduce reliance on Chinese suppliers, but Chinese companies can still benefit through using carveouts or meeting certain conditions.

Though far from fully fleshed out, his pitch is in line with a growing recognition worldwide of China’s critical role to the development of the EV industry and suggests an emerging split within the Republican Party about the future of Chinese industrial investment on US soil.

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Article Details

Author / Journalist: Bochen Han

Category: Technology

Markets: Hong KongCanadaChinaJapanMexicoUnited States

Topics: Chinese Auto Republican Plants Investment China Companies Build Electric Carmakers Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 01:37:51 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 1470 words

Reading Time: 9 minutes read

Sentences: 48 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21889440

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Official Website: scmp.com

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