Hyperdrive
Tesla, BMW Bypass Trump’s Trade War and Score a Win for China
- Beijing says Tesla plant an ‘achievement’ of its opening-up
- Germany, China strike deal that’s sweet for German automakers
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Less than a week into President Donald Trump’s trade war with China, global automakers have shown there are ways to bypass the battle -- and scoring a win for Beijing in the process.
Tesla Inc. and BMW AG are among the biggest potential losers from Beijing’s retaliatory tariffs on car imports from the U.S. because much of their production is centered in America. They’re now doubling down in China: this week, Tesla announced its first factory outside the U.S. while BMW is poised to become the first foreign manufacturer to own majority control of a Chinese automobile venture. Cars made locally by foreign brands will dodge import levies.