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The electric vehicle tariff war will make everyone poorer

Good morning! Today is Wednesday, May 22, 2024 and here it is Morning shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know.

First gear: China responds to US electric vehicle tariffs

China has spent the past few years Making electric cars is really cheap has been finding its way beyond its borders and into markets such as Europe and Australia. Before this cheap threat can reach America, the United States impose a huge tax rate of 100% about Chinese electric vehicles and now, it looks like China is about to strike back.

China is now Consider imposing 25% tax on American and European cars imported into this country for sale, Bloomberg reports. The website reported that this tax could be levied on US-made car models equipped with large engines. As Bloomberg explains:

China has signaled it is ready to impose tariffs as high as 25% on imported cars with large engines, as trade tensions escalate with the United States and the European Union.

The Chinese Chamber of Commerce in the EU said it had been informed of the potential move by “insiders,” according to a statement posted on X. The tariffs will affect European automakers and the US and have a “significant” impact on relations with the EU it added.

The United States has already imposed tariffs on Chinese electric vehicles, and many believe the European Union could soon follow suit. However, Stellantis coach Carlos Tavares Warning that this may not be a smart move. The CEO warned that widespread tax increases could have “significant consequences for jobs and production.” reports Reuters. As the website explains:

Tavares said tariffs on Chinese vehicles imported into Europe and the US are “a big trap for countries going down that path” and will not allow Western automakers to avoid restructuring to meet the challenge from lower-cost Chinese manufacturers.

Along with preventing domestic automakers from competing with Chinese rivals on a level playing field, Tavares also warned that the tariffs would “promote inflation” and could have a detrimental impact on sales and production throughout the auto industry.

Number 2: An all-electric Lamborghini is still a long way off

A company probably won’t contribute Affordable EV discourse is Lamborghininot just because its cars are too expensive but also because it won’t Rush to produce electric cars soonaccording to company owner Stephan Winkelmann.

According to Winkelmann, the Italian automaker’s all-electric supercar is still several years away from launch, despite rivals Ferrari and McLaren suggested the job going on for their own battery-powered monsters. However, in a new interview with Bloomberg Lamborghini’s boss said the project is not a top priority for the company, as the site explains:

Lamborghini boss Stephan Winkelmann said that while performance is not an issue for electric vehicles, some emotional aspects – like the sound of the Huracan’s V10 engine – cannot be recreated. The brand owned by Volkswagen AG also remains open to using e-fuels if regulations become more favorable.

Winkelmann said in an interview that the all-electric super sports car is “not something that has been sold until now.” “It’s too early and we have to see if and when this will happen.”

However, this does not mean that Lamborghini is not willing to keep up with the times. It There are hybrid supercars in the world and recently added a plug-in option for the company’s best-selling Urus SUV. Bloomberg also reports that the company is eyeing e-fuels as a means of keeping its gasoline-powered cars running.

Lasting e-fuels as well as a massive manufacturing overhaul The company will help the company cut auto emissions by about 40% by 2030, Bloomberg reported.

3rd gear: NHTSA probes VW ID.4 recall

It seems like no automaker is safe from the wrath of recalls these days. After Ford And Tesla was forced To call cars back for repairs this year, Volkswagen is now facing an investigation into a recall affecting its ID.4 electric SUV.

VW’s ID.4 was recalled in 2023 after problems with the car’s doors were discovered, with some doors even opening at high speeds. Currently, the company’s troubleshooting is being investigated by the National Highway Traffic Safety Administration, report Automotive news. As the website explains:

NHTSA’s Office of Defects Investigation said it has received 12 reports on 2021-2023 ID4 vehicles alleging “vehicle doors opening repeatedly while driving without a reasonable possibility of detection.”

The agency also received reports that the door handles would prevent consumers from entering and exiting the vehicle, NHTSA said in its filing.

The initial recall required technicians to analyze the ID4 door handle and evaluate whether replacement was needed.

NHTSA has opened an investigation — known as a recall inquiry — to evaluate the effectiveness of the recall and the initial corrective action. NHTSA said the complaining vehicles have all received corrections.

Original The recall affects more than 50,000 VW ID.4s and probing the fix is ​​the first step in NHTSA’s process to evaluate its effectiveness. If any problems with the fix are found, the agency may issue a recall letter or may close it if the fix is ​​satisfactory.

Device 4: Boeing boss faces uprising

As of right now, Boeing is quite a year into 2024. After Quality control problems were discovered at its factory and a door plug pops out to the side of one of his planes, the company’s boss is currently facing protests among shareholders over his salary for the year.

Shareholders in American aircraft manufacturer voted over CEO Dave Calhoun’s compensation earlier this month, with a “significant” portion of them voting against and going against his $32.8 million pay package, report Financial Times. As the website explains:

Although largely symbolic, the vote at the company’s annual meeting marked one of the largest revolts this year against the CEO of a company in the Dow Industrial Average. Jones. Objections of this scale in the company’s vote are a sign of significant frustration from shareholders.

More than a third of investors refused approval in an advisory vote on executive compensation. Calhoun is expected to receive $32.8 million this year – a 45% increase – but 35% of shareholders are opposed. And 22% voted against keeping him chief of the plane maker as it struggles to address safety and quality failures.

Calhoun previously announced plans to step down at the end of 2024 following the crisis bad press his company received in recent months. The Boeing boss has made his name since 2020, during which time the company’s share price has nearly halved.

On the contrary: Great men in their flying machines


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