China Wants Automakers To Safeguard Their EV Technology And Keep It Within The Country As Companies Look To Expand Factories To Avoid Heavy Tariffs: Report
Portfolio Pulse from Anan Ashraf
China is advising its automakers to keep advanced EV technology within the country while expanding factories abroad to avoid tariffs. This includes exporting knock-down kits for assembly in foreign plants. BYD Co. is among the companies affected, planning a factory in Hungary.
September 12, 2024 | 6:22 am
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BYD Co. is affected by China's directive to keep EV technology domestic while expanding abroad. The company plans to establish a factory in Hungary to avoid tariffs.
BYD Co. is directly impacted by China's recommendation to keep EV technology within the country. The company's plan to establish a factory in Hungary aligns with the strategy to avoid tariffs, potentially boosting its market presence in Europe.
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