Chinese EV Invasion Moves North as BYD and Chery Exploit Slashed Canadian Tariffs [Yahoo! Finance]
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Source: Yahoo! Finance
Canada recently relaxed its tariff structure for Chinese electric vehicles, allowing them to enter the country at a revised duty rate of just 6.1%. This allows brands such as BYD and Chery effortless access. However, they are only allowed to bring in a fixed 24,500 Chinese-made EVs under the quota. That is still enough for both brands to start a business through a clever dealership network. A report by Carscoops stated that both brands are planning to establish independent dealerships. However, whether the brands can sustain multiple dealerships under a limited vehicle quota is something that is yet to be ascertained. For now, the plan involves establishing dealerships in the Greater Toronto Area and then expanding east and westward to cities like Montreal, Calgary, and Vancouver. Sources claim that BYD is aiming to build 20 dealerships in the first year of its operation in Canada. Read More from MotorBiscuit: U.S Automakers Raise Alarm on Chinese Car Companies, Trump Urged t
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