BYD, Tesla May Face Import Caps as Canada Works Out China EV Quota.

The article focuses on the Canadian government's deliberations over allocating a new low-tariff quota allowing up to 49,000 Chinese-made electric vehicles (EVs) into Canada annually at a 6.1% tariff. Officials are considering whether to impose individual caps for Chinese manufacturers such as BYD Co., Chery Automobile Co., and Geely to prevent market dominance and to promote equitable access, especially for brands new to the Canadian EV market. The quota, which began in March with an initial 24,500 import permits available on a first-come, first-served basis until August 31, remains largely unused but is expected to be utilized soon, with Tesla reportedly lowering prices on its Shanghai-made Model 3. The government also aims to reserve half the quota for EVs priced under C$35,000 within five years and may prioritize companies that establish Canadian operations, including vehicle assembly, to encourage joint-venture investments. [Extracted from the article]