BYD, a Chinese electric vehicle (EV) manufacturer, had planned to enter the Canadian market, offering affordable EVs to Canadians. However, Canada responded to the US’s 100% tariff on Chinese EVs by imposing its own 100% tariff on Chinese EVs. As a result, BYD has paused its plans to enter the Canadian market. This development is not surprising, given the US and Canadian governments’ concerns about the potential impact of Chinese EVs on the local market.
BYD, the largest EV manufacturer in China, had planned to expand its operations to Canada, Mexico, and the European Union. However, the 100% tariff on Chinese EVs has made it difficult for the company to enter the Canadian market. The Canadian government’s decision to impose its own tariff on Chinese EVs has effectively blocked BYD’s entry into the market.
The outcome of this development is uncertain, but it may impact consumers in the long run. Chinese EVs are known for their affordability and quality, and the absence of competition from BYD may lead to higher prices and less innovative products from established automakers.
Source: https://insideevs.com/news/740395/byd-canada-tariffs/
