China launches major electric vehicle export push to Europe, underscoring global ambitions and sparking concerns
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A Chinese ship recently delivered 5,000 electric vehicles (EVs) from Chinese manufacturer BYD to Europe, marking the start of a major EV export push.
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BYD aims to operate 8 ships transporting 7,000 EVs each to Europe every voyage within 2 years, underscoring its global ambitions.
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Chinese EVs are much cheaper than European models, forcing European automakers into partnerships to radically cut costs to compete on price.
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The Chinese state heavily supports favored industries like EVs, allowing companies to sell at very low prices overseas, concerning Europe.
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The US has reacted with protectionism to shield automakers rather than spurring innovation, but it's unclear if that will ensure competiveness.