Rick Lazio: We've lost an auto race before, China's EV climb should worry us
Tesla’s newly unveiled Roadster is a reminder that America can still produce breakthroughs that capture the world’s imagination. The car can accelerate from zero-60 in less than a second and perform feats that once belonged in science fiction.
TL;DR
- Tesla's new Roadster highlights American innovation but raises questions about commercialization, as China is adept at producing affordable technology at scale.
- Chinese automakers are rapidly gaining market share in countries like Britain due to advanced technology and aggressive pricing.
- U.S. tariffs on Chinese EVs aim to protect domestic production but do not solve the core issues of U.S. manufacturing productivity and cost.
- Historically, American automakers were slow to match Japanese advancements in production efficiency, a lesson relevant to the current EV competition.
- China has significant advantages in the EV supply chain, particularly in battery production, and a cost advantage due to steeper price declines in battery packs.
- The U.S. needs policies that incentivize investment in research, advanced manufacturing, and robotics, particularly for smaller suppliers.
- Dependable, long-term government policies are crucial for businesses to plan major investments in production.
- Ultimately, America must improve its ability to turn breakthrough ideas into affordable products to win the global auto race.