Chinese EVs are ‘driving into Mexico’ – and it’s starting to worry the US

Four years after the United States-Mexico-Canada trade agreement (USMCA) was adopted, Mexico and the US face a common concern: the prospect of cheap Chinese electric vehicles dominating a fast-growing market and undermining regional carmakers like GM (GM), Ford (F), and Tesla (TSLA) in the process. Chinese imports have already begun south of the US border. EV and plug-in hybrid imports jumped 443.9%, by value, in the first quarter compared to the same period the previous year, according to data from S&P Global Market Intelligence. Overall, 1 in 10 cars sold in Mexico today comes from a Chinese automaker, according to…