Mexico has quickly become a major market for Chinese auto makers. Last year, China was the leading car supplier to Mexico, exporting $4.6 billion worth of vehicles. Some Chinese electric vehicle makers – including Tesla-rival BYD – have been looking for a further foothold in North America by exploring factory sites in Mexican states Durango, Jalisco, and Nuevo Leon. For Mexico, the foreign investment is an economic boost and some local governments have offered incentives to Chinese companies exploring factory options. But U.S. officials worry this could be a part of a larger strategy from Chinese auto makers to skirt trade restrictions and enter the American market. Experts say this leaves Mexico in a difficult position of maintaining its crucial relationship with the U.S. without being overly friendly to Chinese investment. Now at the center of a trade war between two major powers, how has Mexico quietly become a hot spot for Chinese EV companies and will the country become a “backdoor” for these cars to drive into the U.S.? Chapters: 1:32 How Chinese EVs are taking over Mexico 1:36 Chapter 1 – China’s entry to emerging markets 5:12 Chapter 2 – Mexico’s auto paradise 8:30 Chapter 3 – Highway to the future Produced by: Merritt Enright Edited by: Evan Lee Miller Animation: Christina Locopo, Jason Reginato Supervising Producer: Jeniece Pettitt » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision ...
Step 1: make a competitive car.
Step 2: sell it for less than the other guys.
America is losing at capitalism for the first time in modern history and our government’s collective shit-flinging would be hilarious if not for the fact that the only ones suffering are the consumers
You missed the step where the government subsidizes the manufacturing of EVs so that they can be sold for less than they cost to build at market rates for material and labor. Or was that implied in your step 2?
I dont know I’d still argue America is still very much winning at capitalism, because they’re cheating, and always have. The low level consumer is irrelevant.
China has a super cheap EV that’s better quality and price than anything else sold in the US? Institute massive tarrifs or just completely block them from being sold here.
The capitalists are staying rich and still getting richer. They’re winning. Consumer isn’t even given the option to buy the cheap China EV, or has to jump through hurdles and hoops to get the option, which very few will do.