President Biden quadrupled tariffs on Chinese-made EVs. The catch? Hardly any Americans are buying these cars anyway.
Toyota Motor and Ford Motor executives might feel a little uneasy Wednesday morning. On Tuesday, the Chinese electric-vehicle maker unveiled its Shark pickup truck in Mexico. It’s the company’s first truck, a plug-in hybrid vehicle that is a little longer than a Ford Maverick, and a similar size as the Toyota Tacoma.
General Motors (GM) comes into focus alongside Tesla (TSLA) and Ford (F) as the Biden administration raises tariffs on Chinese electric vehicles.