US Looks to Counter China's EV Market Ambitions
• US concerned about China flooding the electric vehicle market and undercutting US manufacturers • China investing large amounts to dominate the EV industry like they did with solar panels • US government investigating if Chinese vehicle imports pose national security risks due to data collection • US Energy Secretary states IRA tax credits and incentives can make EVs more affordable for Americans • Auto industry throttling back EV investments in near-term due to recent slowdown in demand