U.S. Treasury Secretary Janet Yellen has called on the European Union to collaborate with the United States in addressing the surge of Chinese green-tech exports, warning that the influx threatens global manufacturing sectors.
The shares of the Chinese EV makers Nio and Xpeng closed higher on Tuesday despite the confirmation of the huge increase in China-made energy goods including electric vehicles.
The shares of the Chinese EV makers Nio and Xpeng closed higher on Tuesday despite the confirmation of the huge increase in China-made energy goods including electric vehicles.
Dan Ives, Managing Director of Wedbush Securities and Senior Equity Analyst, said on Friday that China EV makers will "aggressively go after Europe" as Biden administrations prepares to increase tariffs from 25 to 100 percent next week.
Geely's premium brand Zeekr became, on Friday, the fourth US listed electric vehicle manufacturer. Established in China back in 2021, the company needed only three years to debut in the New York Stock Exchange as it plans to expansion in six to eight European countries this year.
The upcoming week can see tariffs on clean-energy goods from China increasing as much as 400 percent. When it comes to the tariffs on electric vehicles manufactured in China, US officials expect to raise the tariff rate from 25 percent to nearly 100 percent, sources told WSJ.
The Biden administration is poised to unveil fresh tariffs on China next week, with a focus on key sectors such as electric vehicles, batteries, and solar cells, diverging from Trump's broad tariff approach.
Zeekr, the premium brand of Chinese automaker Group Geely, has priced its initial public offering (IPO) in the United States at the top of its indicated range on Thursday, raising $441 million.
In March, the European Union's car market faced its first monthly decline of the year, marking a 5.2% drop to 1 million units — the European Automobile Manufacturers' Association (ACEA) numbers unveiled on Thursday.
Geely Holding Group reported on Thursday its first quarter sales of 738,400 vehicles, an yearly increase of 27%. The figure includes sales from Geely Auto, Lynk & Co, Zeekr, Volvo Cars, Polestar, Proton, Lotus, Smart, Radar, LEVC, and Farizon.
