Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%USDC1.000.01%BNB287.900.44%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Nio Highlights Importance of Openness in US Speech Amid China-US Strain

Nio Highlights Importance of Openness in US Speech Amid China
China EV maker Nio urges openness in US speech amid tensions - Business & Finance China EV maker Nio urges openness in US speech amid tensions - Business & Finance
Nio Highlights Importance of Openness in US Speech Amid China
China EV maker Nio urges openness in US speech amid tensions - Business & Finance China EV maker Nio urges openness in US speech amid tensions - Business & Finance

Listen to the article now

Nio Highlights Importance of Openness in US Speech Amid China-US Strain

William Li, founder of Chinese electric vehicle (EV) maker Nio, emphasized the importance of openness and competition in the EV market during a rare speech at Harvard University. He pointed to the success of Tesla in China as evidence of the benefits of an open and competitive market environment.

Li highlighted the rapid growth of EVs in China, attributing it to a market where all products are welcome regardless of their brands or origins. He argued that competition drives greater investment, longer time to break even, less margin for mistakes, and ultimately leads to better companies and industry sustainability.

However, tensions between China and the West over Chinese EV exports have escalated, with concerns over state subsidies and their potential impact on domestic automakers. The European Union is investigating Chinese EV makers such as BYD, Geely, and SAIC, which could lead to tariffs over the subsidies.

Despite these tensions, few Chinese-made EVs are sold in the U.S. market due to steep tariffs already in place. President Joe Biden is reportedly considering raising tariffs on Chinese EVs, with Republican and Democratic senators raising concerns, including fears of national security.

Nio, one of China’s biggest EV makers, is exploring the feasibility of selling its vehicles in the U.S. market every quarter. While Tesla remains dominant in the Chinese market, selling significantly more cars than Nio, Li sees potential for Nio to expand internationally.


Comment Template

You May Also Like

Business

China Retaliates Against US and EU:  Imports of commonly used plastic from the United States, the European Union, Taiwan, and Japan are the subject...

Business

Easing Inflation in the US Spurs Debate:  In recent months, there have been palpable concerns surrounding the pace of price increases in the United...

World

US Legislation Calls for Coordination of Japan’s AUKUS Role with UK, Australia A bipartisan group of senior U.S. senators introduced legislation on Wednesday aimed...

Business

US Defense Secretary: Rafah Situation Prompts Pause in Weapons Shipment to Israel The United States has overtaken China to become Germany’s leading trading partner...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok