US subsidies for Chinese electric car production in Mexico, Apple abandons electric cars, Honda sells hydrogen electric cars
Apple gave up on the electric vehicle business, and Chinese electric vehicles received U.S. subsidies at their Mexican plants, opening the way for them to enter the U.S. and Korean markets.
Chinese-headquartered vehicles and parts produced in Mexico could not only receive preferential treatment under the U.S.-Mexico-Canada trade agreement, but also qualify for a $7,500 electric vehicle (EV) tax credit, a report by the Association of American Manufacturers said on the 14th. revealed.
In a transformation of the electric vehicle market, Honda announced on the 28th that it will begin sales in India with the commercialization of hydrogen vehicles for home electric charging.
Bloomberg reported on the 27th that Apple, an American IT giant, has discontinued the development of its electric vehicle (EV) ‘Apple Car’, and more than 2,000 development project participants have been subject to transfers and layoffs in the AI department.
Japan's Honda unveiled its new fuel cell vehicle (FCV) 'CR-Ve:FCEV' on the 28th and announced sales in India and sales in Japan starting in the summer.
Developed based on the new flagship sports utility vehicle (SUV) CR-V, it is the first SUV-type mass-produced FCV by a Japanese car manufacturer and can travel more than 600 km using one-time hydrogen for home electric charging.
Honda announced on this day that the new FCV can drive more than 60 km on electricity alone like an electric vehicle (EV) and is equipped with a fuel cell jointly developed with General Motors (GM) of the United States and will be launched in North America.
Hydrogen electric vehicles use electricity generated from a chemical reaction between hydrogen and oxygen and are driven by a motor.
Hydrogen electric vehicles, which Japan has focused on, are also called the 'ultimate eco-car' because they do not emit carbon dioxide while driving. The supply of hydrogen charging stations has been a challenge, but this problem has been solved by expanding the operating range of electric vehicles through home electric charging.
BYD, China's largest electric vehicle, is spending 3 billion reais ($620 million) on a new industrial complex in northeastern Brazil, building three factory complexes in the northeastern state of Bahia, focusing on the site of a U.S. Ford plant that closed in 2021. Reuters reported that it will enter the U.S. market.
Nikkei reported on the 14th, citing the Mexican company's manager, that China's BYD plans to build a new electric vehicle (EV) factory in Mexico.
Nikkei reports that BYD, known for its affordable models and diverse lineup, has recently overtaken its biggest rival, Tesla of the United States, and is emerging as the world's leading EV manufacturer in terms of sales. It has already begun a feasibility study for a Mexican plant and has currently discussed conditions, including the location of the plant, with officials. He said he was negotiating with them.
The Alliance for American Manufacturers soon announced that "the introduction of cheap Chinese cars into the U.S. market because they are backed by the power and money of the Chinese government could be an extinction event for the U.S. auto sector." Citing a report from Hal, Reuters revealed the conflict in 'entering the United States'.
“The commercial backdoor open to Chinese vehicle imports must be closed before it causes large-scale factory closures and job losses in the United States,” the report said. “The United States must make efforts to prevent the United States from receiving the benefits of NAFTA,” he said.
Reuters reported in October of last year, “Tesla’s Chinese suppliers and Chinese technology companies say the automaker is planning a new factory,” and “$1 billion investment,” said Samuel Garcia, governor of northern Mexico’s Nuevo Leon, during a visit to Shanghai. “It was reported.”
Tesla's reinvestment in Mexico through a Chinese investment company included $700 million from Ningbo Tuopu Group, which packaged it as a Chinese company.
Ningbo Tuopu Group is a specialized automobile parts company and a producer and developer of shock absorbers and other automobile parts.
“I’m very pleased that everything seems to indicate that the Nuevo Leon site will be at least twice as big as the one in Austin,” Mexico Governor Garcia said, adding that Tesla is already sourcing batteries, software, computers and other components from Nuevo Leon. told Reuters.