Chinese car companies like BYD are ramping up EV production and are already flooding Europe with cheap and advanced models. The U.S. is now worried that the flood of automobiles will soon reach American shores and hurt domestic automakers. Elon Musk warned these companies will “demolish” global rivals like Tesla if trade barriers are not put in place.
WSJ’s Yoko Kubota traveled to China’s eastern city of Hangzhou to visit an EV graveyard.
Chapters:
0:00 China’s EV graveyards
1:11 Overcapacity
2:28 Beijing Auto Show 2024
4:17 Takeaways
WSJ Explains
News moves fast, and there’s not always time to untangle the complex forces driving the day’s biggest stories. WSJ Explains breaks down big market moves, business and economic trends, and scientific developments to help you stay ahead of the curve.
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