WSJ Tech News Briefing TNB Tech Minute: Trump’s Megabill May Give Boost to Chinese EV Makers
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Jul 8, 2025 Dive into how President Trump's megabill could supercharge China’s electric vehicle industry, opening doors for increased exports. Discover the potential 2.5% pay boost for Uber drivers thanks to a no tax on tips provision. Plus, learn about Boldstart Ventures’ ambitious $250 million AI fund aimed at fostering innovation in early-stage startups. Each topic sparks excitement about the future of tech and transport.
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How Trump's EV Megabill Could Power China's Electric Vehicle Boom
China's electric vehicle (EV) makers expect significant growth as a result of President Trump's U.S. megabill, which ends subsidies for EVs bought after September.
The Secretary General of the China Passenger Car Association highlights that this new law could expand China's opportunities in overseas markets.
Chinese exports of new energy vehicles, including EVs and plug-in hybrids, surged 48% in the first half of this year compared to last year.
This legal shift may give Chinese EV makers a competitive advantage globally, fueling their export growth and industry development.
Chinese EV Makers Gain Opportunity
- The U.S. mega bill ending EV subsidies for buyers after September may benefit Chinese EV makers.
- Chinese car exports grew 48% in the first half of the year, suggesting growing overseas market potential.
Uber Drivers to Gain from Bill
- The mega bill's no-tax-on-tips rule could boost Uber driver pay by 2.5%.
- This could increase Uber's supply and fees, also benefiting associated autonomous vehicle ventures.