The head of Inside EVs, a leading EV media business in the U.S., reported after driving 12 Chinese EVs that the U.S. car industry faces serious trouble if these Chinese manufacturers enter the market. The quality and competitiveness of Chinese EVs pose a significant threat to American automakers like Ford (NYSE: F) and GM (NYSE: GM). Historically, industries like steel and rubber, once considered secure, have been decimated by foreign competition, and the auto industry could be next unless American companies develop superior battery technology.
The guy who runs what’s called Inside EVs, which is the top EV media business in the United States, just did an article. He went to China and he drove 12 cars from 12 different Chinese EV manufacturers. And he came back and he wrote an article and said, the U.S. car industry is in phenomenal trouble. If these car companies ever can break through the barriers, whatever gets erected by the government here to keep them out. He said, it’s just at that point, our ability to compete with those cars is literally impossible.
Now, you and I have, over the course of our lives, watched big steel get hurt by companies from overseas, big rubber—there’s—we’ve seen some industries that we thought were basically bulletproof in the United States that were, you know, part of the foundation of the U.S. economy, basically get rubbed out by companies that were based overseas. I can actually see the day right now when Ford and GM are really on the ropes.
I think you’re right. And especially unless one of those companies comes up with a very light, heavy-duty battery that will work, charge fast, and they can compete with. And I haven’t read the article you talked about, but I would suspect that a lot of those companies in China are trying to add to their quality and battery life.
I think you’re right because they’ve hit a wall on EVs.
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