According to foreign media reports, Interact Analysis, a global authoritative research institution, has studied the consequences of a series of tariffs imposed by the White House on China in May.
A report released by it said that at present, more than half of the lithium-ion battery imports in the United States come from China, and it is still difficult for the United States to get rid of its dependence on Chinese lithium-ion batteries in the short term.
Now the “trade war” waged by the United States against China may hinder the transformation of the United States to electric vehicles.
According to the Interact Analysis report, as the United States has more than tripled tariffs on Chinese electric car batteries this year, from 7.
5% to 25%, this may push up the prices of batteries and electric vehicles, reduce consumers’ willingness to buy, and thus slow the popularity and market penetration of electrified products.
At present, the price of electric vehicles is still higher than that of traditional gasoline-fueled cars.
According to Cox Automotive, the average transaction price of electric vehicles in the United States in April was $55252, while the average transaction price of cars with internal combustion engines was $48510.
This price does not include freight and state and federal government concessions and tax credits.
Any increase in the price of electric vehicles related to tariffs will further widen the price gap between electric vehicles and fuel vehicles, thereby curbing market demand for electric vehicles and making electrification transformation more difficult.
this will run counter to the broader efforts of the US federal government to speed up the electrification transformation.
Although the inflation reduction Act (the Inflation Reduction Act) introduced in 2022 aims to vigorously promote the establishment of supply chains for batteries and their raw materials in the United States, it is announced that it may take three to five years for new mines and plants to start production.
Shirly Zhu, a researcher at Interact Analysis, said that it will take several years for the United States to establish a homegrown battery supply chain, and it may not be easy for automakers to fully switch to other suppliers in South Korea and Japan in the short term.
” China controls more than 80 per cent of the world’s key mineral mining and processing supply chains, according to Signorp.
Meanwhile, the demand for batteries in the United States has been growing.
According to the Interact Analysis report, the US imported $18.
8 billion worth of lithium-ion batteries in 2023, of which imports from China reached $13.
2 billion, up 42 per cent from a year earlier.
Although the United States only recently raised tariffs on Chinese-related products, China has been seeking to diversify its export links since the United States expressed its intention to speed up the construction of its domestic supply chain and passed the inflation reduction Act.
Chinese lithium-ion battery manufacturers, for example, have established manufacturing bases in Europe and Southeast Asia.
Interact Analysis reported that these measures taken by China will reduce its impact on the US market.
According to the report, 70% of the battery capacity currently planned by Chinese battery manufacturers is in Europe and will also be sold to the European market.
China is “looking for a variety of applications to develop its business, not only electric vehicles, but also energy storage,” Shirly Zhu said.
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