Electric vehicle adoption continues globally despite political and commercial resistance. Hyundai will invest an additional $5 billion in U.S. manufacturing, bringing total recent commitments to $26 billion and planning a Louisiana-based steel mill to build a domestic value chain for steel, auto parts, and vehicles. Tariffs on Mexico and Canada have contributed to reported losses for some U.S. automakers, prompting supply-chain shifts and manufacturing relocation. BYD's Thailand plant has begun exporting cars to Europe to sidestep Chinese EV tariffs. Waymo has started operating in New York City, prompting mixed public reactions.
We constantly say here at InsideEVs that the world will continue to electrify, whether you like it or not. And, well, that's still proving to be true. We're still going electric (in some fashion) whether the powers that be want that to happen or not. And unfortunately, it looks like some people really, really don't want us to go electric.
Are the tariffs working? I don't know, our own homegrown manufacturers like Ford and GM have openly said that the tariffs (especially the ones on Mexico and Canada) are responsible for staggering losses last quarter, but those same executives seem to speak in favor of protectionism in the long term. Moving manufacturing around to get in front of tariff losses takes time, but it looks like some manufacturers are playing ball.
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