Home » Elon Musk Opposes US Tariffs on Chinese Electric Vehicles, Calls for Free Market Exchange

Elon Musk Opposes US Tariffs on Chinese Electric Vehicles, Calls for Free Market Exchange

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Elon Musk Opposes US Tariffs on Chinese Electric Vehicles, Calls for Free Market Exchange

Elon Musk, the CEO of Tesla, has spoken out in opposition to US tariffs on Chinese electrical autos (EVs). During the annual know-how convention VivaTech in Paris, Musk expressed his opposition to the lately introduced tariffs, stating that neither Tesla nor himself had requested them. He emphasised that he helps free commerce and believes that tariffs inhibit the liberty of alternate and deform the market.

Musk additionally revealed that he was stunned by the Biden administration’s determination to boost tariffs on electrical autos imported from China to one hundred pc. Despite these challenges, Tesla continues to compete efficiently within the Chinese market with out tariffs or particular help.

In a separate growth, Tesla has began development on a megafactory in Shanghai for manufacturing its power storage batteries, Megapacks. This groundbreaking venture is taken into account a major milestone for the corporate, as it’s Tesla’s first megafactory constructed exterior the United States. The manufacturing facility, situated in Shanghai, is Tesla’s second plant within the metropolis following the inauguration of its gigafactory in 2019, which required an preliminary funding of over 50 billion yuan (roughly 7 billion {dollars}).

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