Chinese EV Makers Pivot To Africa Amid EU And US Tariff Hurdles
Portfolio Pulse from Benzinga Neuro
Chinese EV manufacturers are pivoting to Africa due to increased tariffs from the EU and US. Neta Auto has opened its first African store in Kenya and plans further expansion. Despite the tariffs, companies like BYD, NIO, XPeng, and Li Auto continue to grow globally.
July 08, 2024 | 11:00 am
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BYD is investing in local factories and planning to open its first Southeast Asia factory in Thailand, showing resilience against tariff challenges.
BYD's investment in local factories and expansion into Southeast Asia demonstrate strategic moves to mitigate tariff impacts, likely supporting stock performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Li Auto delivered 47,774 vehicles in June 2024, close to its December record. The company is expanding globally despite tariff challenges.
Li Auto's strong delivery numbers and global expansion efforts indicate resilience, likely to positively impact short-term stock performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
NIO delivered 21,209 vehicles in June 2024, showing a 98.1% year-over-year growth. Despite the increased tariffs, NIO continues to expand globally.
NIO's strong delivery numbers and continued global expansion indicate resilience against tariff challenges, likely boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
XPeng delivered 10,688 vehicles in June 2024, a 24% year-over-year rise. The company is expanding globally despite tariff challenges.
XPeng's year-over-year growth in deliveries and global expansion efforts suggest positive momentum, likely to support short-term stock performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70