Advertisement
Singapore markets close in 3 hours 45 minutes
  • Straits Times Index

    3,324.76
    -1.52 (-0.05%)
     
  • Nikkei

    39,662.59
    +489.44 (+1.25%)
     
  • Hang Seng

    18,065.13
    -7.77 (-0.04%)
     
  • FTSE 100

    8,247.79
    -33.76 (-0.41%)
     
  • Bitcoin USD

    61,722.83
    +390.33 (+0.64%)
     
  • CMC Crypto 200

    1,280.09
    +30.97 (+2.48%)
     
  • S&P 500

    5,469.30
    +21.43 (+0.39%)
     
  • Dow

    39,112.16
    -299.05 (-0.76%)
     
  • Nasdaq

    17,717.65
    +220.84 (+1.26%)
     
  • Gold

    2,328.70
    -2.10 (-0.09%)
     
  • Crude Oil

    81.26
    +0.43 (+0.53%)
     
  • 10-Yr Bond

    4.2380
    -0.0100 (-0.24%)
     
  • FTSE Bursa Malaysia

    1,589.82
    +4.44 (+0.28%)
     
  • Jakarta Composite Index

    6,925.67
    +42.96 (+0.62%)
     
  • PSE Index

    6,288.89
    -10.16 (-0.16%)
     

China’s Cheap EVs Aren’t a Threat to Tesla, Ford, and GM. Here’s What Is.

China’s Cheap EVs Aren’t a Threat to Tesla, Ford, and GM. Here’s What Is.

It’s a cute little four-door hatchback that’s three feet shorter than Tesla Model Y. With its bright yellow paint job, the Seagull looks a little like a Minion from the back, even if it looks a tad grumpy from the front. A 100% import penalty will be placed on EVs like the hot-selling BYD Seagull, or the GAC AION S, while select batteries and battery components will be hit with a 25% levy. The penalties effectively block Chinese companies from bringing their cars to America and prompt U.S. auto makers to invest in domestic EV component manufacturers.