Chinese EVs pull into the lead
📰 source: cbs_moneywatch · 💼 business
byd, the chinese car company whose name stands for build your dreams, overtook tesla last year as the world's top seller of fully electric vehicles. that's a stunning shift, especially since the u.s. market is virtually closed to chinese evs. correspondent seth doane reports on how china's long-term investments in innovation are paying off in the ev sector, and how the protective tariffs washington has put up could end up hurting american automakers down the road.
byd's ascent is built on years of state backing for battery production, supply chains, and electric drivetrain tech. that has made its cars cheaper and increasingly competitive on features and range, even without access to the u.s. market. the tariffs, designed to protect domestic automakers, may instead slow their innovation and leave them scrambling to catch up. doane's segment, originally broadcast april 12 2026, looks at the global shift in ev dominance and the unintended consequences of protectionism.
why it matters: china's ev dominance undermines u.s. protectionism, threatening american automakers' global competitiveness.
source: cbs_moneywatch
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