Cars built by Chinese companies like BYD in Mexico could have a devastating effect on American manufacturers according to AAM.
is a non-profit, non-partisan partnership formed in 2007 by some of America’s leading manufacturers and the United Steelworkers. Its mission is to strengthen American manufacturing and create new private sector jobs through smart public policies. It believes an innovative and growing manufacturing base is vital to America’s economic and national security, as well as providing good jobs for future generations.
Picture this. Electric cars built in Mexico will be eligible — if they meet all the requirements on battery materials and component sourcing — for the full $7500 federal tax credit/rebate. How is that going to play in Peoria? “The introduction of cheap Chinese autos — which are so inexpensive because they are backed with the power and funding of the Chinese government — to the American market could end up being an extinction-level event for the U.S. auto sector,” the AAM report warns.
BYD is really just the tip of the spear. Once it sets up shop in Mexico, other Chinese electric car companies like Nio and Xpend and Zeekr are sure to follow. So the US is on the horns of a dilemma largely of its own making. When USMCA was finalized less than 4 years ago, no one could imagine Chinese made cars might one day be manufactured in Mexico. But the market has changed dramatically in less than four years.
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