TECH - How Chinese EV Traders Are Beating Global Barriers With A Stealthy Tactic To Conquer New Markets | Benzinga
Chinese electric vehicle traders have found a way to export cars to new markets at a time when such products are facing strong trade barriers in key markets such as the United States.
What Happened: Chinese EV traders have discovered a loophole in the system, allowing them to export vehicles to new markets, reported Rest of World on Monday.
The traders are taking advantage of a policy that permits used cars to be sold abroad without the carmakers’ authorization. This policy allows traders to register new cars in China before immediately shipping them overseas, effectively making the cars secondhand and thus available for export.
These traders are exporting trendy EV models from BYD Co (OTC:BYDDF) (OTC:BYDDY), Li Auto (NASDAQ:LI) to countries where Chinese EVs are not officially sold, such as Russia, Kazakhstan, and Saudi Arabia. The traders are even changing the EVs’ software language to English or Russian to cater to local markets.
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