Yahoo Finance published this video item, entitled “How the EV market will be shaped in U.S., China in 2024” – below is their description.
U.S. consumer demand for electric vehicles has started to wane as economic headwinds and inflation pick up, reducing affordability options. As inflation seems to cool and new competitors join the EV space, is there a possibility things could pick up in 2024?
Bill Newman, Industry Executive Advisor at SAP North America, joins Yahoo Finance Live with Autos Reporter Pras Subramanian and Josh Lipton to discuss the state of the EV market, domestically and in China heading into 2024.
Newman gives context to China’s ability to expand with its existing electrical grid system and also explains competition entering the US.
“I think that you’re also seeing some not just in China, but you’re seeing some of the Asia Pacific companies — VinFast (VFS) is one — take advantage of some of the IRA funding and some of the Infrastructure Bill opportunities available to help offset some of their expansion in the world’s largest market right here in the US and North America,” Newman says. “Two very different markets, two very different energy frameworks, and two very different industrial policies.”
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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