Staying with that intensified trade war between Washington and Beijing,...
China's implementation of increased tariffs on cars manufactured in America,... is prompting some of the world's biggest automakers to yank their production facilities out of the United States.
Kim Hyo-sun tells us more.
BMW says it will move its U.S. production facilities for its popular SUVs overseas amid the intensified trade war between the world's two largest economies as China imposes a new 40 percent import tax on cars made in the United States.
According to a local newspaper in South Carolina,... the German automaker signed an agreement with its Chinese partner Brilliance Automotive Group on Monday to boost the number of its cars manufactured in China annually to 520-thousand by next year.
BMW reportedly plans to scale down operations at its South Carolina plant,... while the company hasn't confirmed whether or not it will maintain parts of its current assembly line.
U.S. carmaker Tesla also announced Tuesday that it will build a plant that's capable of making 500-thousand cars a year in Shanghai.
It will become the automaker's largest non-U.S.-based factory.
Analysts say the decision is aimed at dampening the impact of further tensions that may escalate between Washington and Beijing,... and is seen as a way to get around the recent tariffs imposed by the Chinese government.
Kim Hyo-sun, Arirang News.