The headline is the non-pretending reality. Now that Joe Biden has designated EPA mandates for U.S. automobiles that include having at least 50% of all new vehicle sales be electric by 2030 {LINK}, three major Chinese EV manufacturers are reportedly building manufacturing facilities in Mexico.
Blackrock investments steer WH policy {Go Deep}. Blackrock investments are heavy in China and EV production. Blackrock returns on their investments would be substantial with Chinese EV production in Mexico. Quite a coincidence.
BUSINESS INSIDER – Three major Chinese EV companies are planning to build new factories in Mexico, sparking concern among US officials, according to a new report.
MG, BYD, and Chery are all looking at sites to build new factories in the country, according to unnamed sources cited by The Financial Times, and this investment is causing angst in Washington as it seeks to keep China out of the US electric car market.
US officials have reportedly raised concerns with their Mexican counterparts over Chinese investment, with the new sites potentially including a new $1.5 billion to $2 billion MG electric car factory and a factory investment worth hundreds of millions of dollars from Warren Buffett-backed Tesla rival BYD.
China’s electric vehicle market is booming, and local manufacturers are increasingly looking to expand overseas amid cutthroat competition for customers back home.
China also dominates the global electric vehicle battery supply chain, allowing it to produce far cheaper EVs than many of its US rivals.
The US has attempted to protect the US market by unveiling new rules earlier this month to make it more difficult for EVs made with Chinese parts to qualify for tax breaks.
But the possible expansion of Chinese automakers into Mexico, which recently replaced China as the US’ biggest trading partner, will fuel fears that it could serve as a backdoor. (read more)
Blackrock invests in China and EV’s. Biden policy supports China and EV’s.
Blackrock invests in Ukraine. Biden policy supports Ukraine reconstruction.
Biden puts Blackrock Investment Institute Chairman Tom Donilon in charge of U.S-China policy.
It’s almost as if….
