Neither Trump nor Biden Would Allow You To Buy the Cheapest EV on the Market: Buy These Instead
An electric car costing just 1/3 of current electric vehicles (EVs) on the market could certainly be a boon for consumers and the environment. So why haven’t we seen such a car — such as BYD’s Seagull — hit the US market?
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The Seagull is a small hatchback EV is made by a company called BYD in China. It can be charged quickly and has a range of up to 250 miles. Plus, it comes with an affordable price tag, with the base model costing just $10,700 in China, and BYD vehicles coming in under €30,000 in Europe.
In comparison, the Chevy Bolt EV costs $27,495, the Nissan Leaf costs $29,280, and the Hyundai Kona Electric costs $34,050 in the United States. These vehicles boast similar ranges, at 259 miles, 212 miles, and 261 miles respectively. However, the Seagull only has 75 horsepower, to the Bolt’s 200hp (and the Leaf and Kona claim similar ranges of horsepower). Additionally, BYD has not manufactured the car to meet American crash safety standards.
The main reason you haven’t seen BYD’s cars available stateside is that the Trump administration imposed a 25% tax (on top of the typical 2.5% tax on foreign-manufactured vehicles) on imported Chinese vehicles in 2018, a tariff which the Biden administration has chosen to maintain.
This significant tariff is preventing BYD and other Chinese car manufacturers from breaking into the American market. The American government has good reasons to want to keep Chinese-made vehicles out, since there have been incredible increases of shipments of Chinese vehicles to European markets, from 0.5% in 2019 to over 9% in 2023. There are concerns that similar increases stateside could threaten American car manufacturers and the U.S. economy.
American trade policy has continued to increase barriers for Chinese companies wishing to sell products stateside since 2018. Recently, there have also been concerns that cars from Chinese manufacturers may post a threat to national security.
Unfortunately, by blocking affordable EV imports, the environment is taking a hit too. If electric vehicles were the least expensive cars on the US market, this could significantly increase EV car ownership among American consumers. Electric cars have fewer maintenance requirements and can be operated more cheaply than gas powered vehicles, which could make them a better choice for most Americans.
Learn More: 6 Hybrid Vehicles To Stay Away From Buying
For now, the government does not seem willing to budge on trade with China. So, while you won’t be getting your hands on a cheap Chinese-made Seagull any time soon, climate-conscious drivers can still consider the Chevy Bolt EV, Nissan Leaf, and Hyundai Kona Electric.
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This article originally appeared on GOBankingRates.com: Neither Trump nor Biden Would Allow You To Buy the Cheapest EV on the Market: Buy These Instead
