President Biden has mandated that by 2032, two-thirds of new vehicle sales in the U.S. must be electric or hybrid models.

American companies are currently struggling with the ramp-up in EV production, leading to concerns that China may dominate the U.S. market.

China's BYD, a leading EV manufacturer, is currently excluded from the U.S. market but has experienced growth and profitability.

China controls the electric vehicle supply chain, particularly in mineral refining, which is essential for EV production.

U.S. automakers are lagging in EV development and are reliant on Chinese materials, while previous administration policies sought to curb Chinese auto imports through tariffs.

Chinese electric vehicles are becoming more prevalent in Europe, accounting for nearly 20% of the market in 2023, prompting the EU to consider tariffs against them.