THIS IS HUGE! Saudi and China Sign $5.6 Billion EV Orders | This Will Crush Western Sanctions!

#china #project #usa #invest #saudi #car In 2015, China’s new energy vehicle sales reached 330,000 units, surpassing the United States for the first time and becoming the global leader in new energy vehicle sales. By 2018, China’s production and sales of new energy vehicles reached million units, becoming the world’s largest new energy vehicle market. Against this background, Western countries have begun to find ways to impose severe sanctions on China’s new energy vehicle industry. In the past year, the EU has imposed restrictions on the import of key raw materials for new energy vehicles, stipulating that imports from a single country must not exceed 65% of the total. Tariffs on new energy vehicles exported from China to Europe have also increased from 10% to 15%. At the same time, the EU also launched a countervailing investigation into new energy vehicles from China, which further suppressed the development of Chinese new energy vehicles in Europe. In addition to the EU, the United States has also imposed sanctions on China’s new energy vehicles. On December 1, the US government announced a new policy. Under this policy, Chinese-made new energy vehicles that use battery components produced or assembled in China or other countries will no longer be eligible for the U.S. Inflation Reduction Act starting next year. That means each vehicle loses eligibility for tax credits of up to $7,500. But in fact, these suppressions have not had a negative impact on China’s new energy vehicle industry. Instead, they have promoted cooperation between more countries and China in this field. Middle Eastern countries such as Saudi Arabia and the United Arab Emirates have poured into China’s new energy vehicle market and established important strategic cooperative relationships through large investments. In June this year, Saudi Arabia directly ignored U.S. warnings and signed an investment agreement worth US$5.6 billion with China, becoming China’s largest strategic investment partner in the field of new energy vehicles. But what is curious is why Middle Eastern countries such as Saudi Arabia value China’s new energy vehicle industry so much? What changes and impact will this cooperation bring to Saudi Arabia?