US increases taxes on Chinese electric cars

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The United States of America (USA) is increasing taxes on imported Chinese electric vehicles, as it threatens its car industry. Globally, the new vehicles are currently not favored, as there is still concern about traditional fuel cars remaining with us for years to come. Instead of solely relying on electric cars and facing logistical obstacles such as the lack of electric cars charging stations in certain areas, there has been a sudden turn towards hybrid cars.

This is because they can run on gasoline, diesel and electric power. This is in addition to the fact that they are more expensive than regular vehicles. It is a fact that oil and gas will continue to be with us. Some major European oil companies are even reconsidering their longterm strategy and returning to oil, just like the rest of the major American oil companies. It seems there is still life for fossil fuels beyond the 2030s. Executives from major car companies like General Motors, Ford, Hyundai and Nissan are now expressing support for dual-fuel cars rather than solely electric vehicles.

The current investments are being made in hybrid vehicles, which offer the option of using both types of fuel. Availability of sufficient electric car charging stations needs to be ensured. Electric car sales in the USA slowed down last year, and the industry in Europe had to offer discounts to attract buyers, as they began to realize this shift in buyer attitude towards electric cars became apparent. Switching to a dual fuel system is the only option, while he final decision on what type of vehicle to buy should be left to the future car buyers.

The threat posed by Chinese cheap electric cars, along with being the biggest consumer market, is itself a challenge for the global vehicle industry. Therefore, relying on a single source of fuel to power vehicles is a thing of the past. The future lies in hybrid cars, and the motor industry is realizing this fact. It should follow the Chinese path all the way.

By Kamel Al-Harami
Independent Oil Analyst
email: [email protected]

This news has been read 1004 times!