Chinese EV makers still make inroads despite tarrifs

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Chinese electric vehicle behemoth BYD announced a new partnership this week with Uber that aims to bring 100,000 new EVs to the ride-sharing app globally.

The international collaboration, which starts in Europe and Latin America, will expand to the Middle East, Canada, Australia and New Zealand, offering accessible pricing and financing for BYD?s EVs on Uber?s platform.

Analysts say the agreement is just one example of how Beijing is still finding ways to penetrate international markets to continue expanding its global lead in the EV sector, despite looming tariffs and increased concern about Chinese electric vehicle dominance.

One notable country left out of the BYD-Uber agreement is the United States, which is expected to start implementing a 100% tariff rate on Chinese EVs later this month.

The EU and U.S. recently announced plans to hit Chinese EVs with tariffs amid concerns that a potential flood of cheaper electric vehicles could hit their markets and affect domestic automakers.

China says the moves are protectionist, but Washington and Brussels argue that Beijing?s big subsidies for electric vehicles are to blame.