Two things of note in the electric vehicle world happened today around the same time. First, the Geely Group-owned Chinese EV brand Zeekr debuted on the New York Stock Exchange today at a valuation of around $5.2 billion. Then, around 250 miles south in Washington, D.C., news emerged that the Biden Administration is set to quadruple tariffs on Chinese-made electric cars if they hit American roads. The timing may be purely coincidental.
There are already some Chinese-made EVs available in the U.S. from European or American brands. Lincoln and Buick both import models to the U.S. that are China-made. Polestar, an electric-only offshoot of Volvo, sells the Polestar 2 sedan. Volvo's upcoming EX30 crossover will be made in China. For example, Volvo has touted the EX30's $35,000 starting price as a potential game-changer in the U.S. market.