The Future of Electric Vehicles and Technology Leadership
firms
trade-wars
How China’s rise to 30% of global EV exports has triggered US and EU tariffs, and what that means for the industry as growth slows.
The global electric vehicle market has been transformed between 2020 and 2024, with China rising to control around 30% of EV exports on the back of cost advantages and state subsidies, while Germany holds its ground at the high end of the market. That rise has provoked a sharp trade-policy response, with the US and EU imposing substantial tariffs on Chinese EVs in response to the subsidies underpinning their export growth. As the market matures after a period of explosive growth, the piece argues that success will increasingly hinge on how governments balance protectionism against fair competition while still pursuing decarbonisation through coordinated global strategy.
Originally published on Substack, October 8, 2024.