Hyperdrive
China EV Makers Have Room to Absorb EU Tariffs, Find New Markets
- Move could also accelerate establishment of European factories
- Middle East, Latam America offer new growth opportunities
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Chinese electric carmakers may be crying foul over the European Union’s imposition of additional tariffs, but they have several options to keep growing, including shifting production to the continent and using fat profit margins to absorb some of the hit.
Companies could also turn their attention to new markets in the Middle East, Latin America and Southeast Asia, where EVs comprise a small but growing segment of the passenger car market.