According to a new report, three major Chinese EV companies are planning to build new factories in Mexico, sparking concern among US officials, reports Business Insider.

This comes after Joe Biden’s EPA mandated that 50% of all new vehicle sales must be electric by 2030. MG, BYD, and Chery are all looking at sites to build new factories in the country, according to unnamed sources cited by The Financial Times, and this investment is causing angst in Washington as it seeks to keep China out of the US electric car market.

Read More: https://www.independentsentinel.com/blackrock-china-will-own-the-us-electric-car-market/