Protectionism and EVs: Impact of Tariffs on Rivian, QuantumScape, and Blink Charging Stocks
Wednesday, 22 May 2024, 18:04
Protectionism and EVs
The U.S. government announced 100% tariffs on Chinese EV imports starting Aug. 1, impacting companies like Rivian seeking to bolster domestic supply.
- Batteries Tariffs: Batteries face 7-25% tariffs, potentially affecting manufacturers and favoring QuantumScape's U.S. demand.
- Blink Charging Update: Mitsubishi UFJ Asset Management's stake increase may not alleviate Blink Charging's losses.
Will tariffs save the U.S. EV market?
Tariffs aim to defend U.S. automakers; however, supply concerns persist amid growing competition and declining margins in the EV market.
- Supply Challenges: Equinox EV entry by General Motors poses competition for Rivian, while QuantumScape's battery differs, highlighting supply diversification.
- Profitability Concerns: Tariffs may not ensure long-term profitability for Rivian, QuantumScape, or Blink Charging.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.