With financial support from the Chinese Communist Party (CCP), China's leading automaker BYD is now the world's largest electric vehicle (EV) seller, ahead of US-based Tesla. It has become.
President Joe Biden has made EVs a centerpiece of his “bidenomics” policy, and China has been declared the “king” of the global EV market. according to To Bloomberg News:
The Chinese automaker overtook Tesla as the world's biggest seller of electric cars for the first time in the last three months of last year. It's a major milestone for a company that represents China's dominance in the market, primarily domestically but increasingly overseas. [Emphasis added]
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Selling cheap electric cars is the company's preferred strategy, and it's beating out its U.S. competitors in this respect. BYD also owns its own battery supply chain, which has kept it profitable despite rising costs for the materials needed to make cars. [Emphasis added]
As Breitbart News reported last year, BYD and other Chinese automakers are pumping cheap, subsidized EVs into the U.S. market to cater to Americans turned off by Tesla's EVs and their high prices. We would like to supply this to
Scott Paul, Chairman of the Alliance of American Manufacturers (AAM), previously said: called BYD is “an arm of the Chinese military and government” because the automaker has direct ties to the Chinese Communist Party and receives billions of dollars in subsidies.
Biden's top-down EV policy has been a bit of a failure.
For example, despite billions of dollars in investments and tax breaks, U.S. car dealers report that EVs are “piling up” on their lots, while traditional gasoline cars are selling much faster. I am. Similarly, his $7.5 billion allocated to building chargers across the United States has yet to produce a single one.
John Binder is a reporter for Breitbart News. Email jbinder@breitbart.com. Follow him on Twitter here.
