After months of investigation, the European Union (EU) has announced provisional tariffs on electric vehicles (EV) imported from China, because of what it sees as Beijing’s unfair support for companies that undercut European carmakers.
After months of investigation, the European Union has announced additional tariffs on electric vehicles imported from China, because of what it sees as Beijing’s unfair support for companies that undercut European carmakers. The decision deals a blow to the Chinese government, which had been lobbying hard against the taxes, and EV producers in the country. Most companies are facing hefty extra tariffs of between 17.4% and 38.1%, on top of the 10% duty already levied by the bloc.
The Shanghai-based automaker, which was China’s second largest seller of battery EVs, pug-in hybrids and fuel cell cars last year, will likely need to build a factory in Europe to bypass these duties. Geely, China’s fourth largest NEV retailer and the owner of Volvo, faces 20% in additional duties, a penalty which is likely to be a “mixed bag,” Sebastian said. His analysis suggests Geely could still profitably export to the EU, but margins will narrow severely.
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European Auto Industry Awaits Possible China EV Tariff RetaliationAs a former European Automotive correspondent for Reuters, I’ve a spent a few years writing about the industry. I will penetrate the corporate hype and bluster and find out how these gigantic enterprises are really doing. I also love to drive their magnificent machines, and their more modest ones. I’ll be telling you if the technology works, too.
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