TECH - Cisco 'Very Optimistic' About Growth In Chinese EV Market Despite Trade Tensions | Benzinga
Cisco (NASDAQ:CSCO) has expressed optimism about its growing relationship with Chinese electric vehicle (EV) manufacturers, despite escalating trade tensions. The tech giant sees the EV sector as its second-largest in the region, with most of its revenue coming from manufacturing companies.
What Happened: Ming Wong, vice president and CEO of Cisco Greater China, stated that the company is currently collaborating with at least 10 electric car customers as they expand their factories, offices, and research and development centers overseas, CNBC reported on Wednesday.
Despite increased tariffs on Chinese EV imports by the U.S. and potentially the European Union, Chinese EV manufacturers continue to expand globally. Companies like BYD are investing in local factories, undeterred by the trade tensions.
"At least as of now, we don't hear anything from the [EV] customers saying that, ...