EU Imposes Special Tariffs on Electric Cars from China
The European Union has recently announced the imposition of special tariffs on electric cars from China, with rates going up to 381 percent. This decision, made by the EU Commission on Wednesday, affects state-owned company SAIC, a partner of Volkswagen, along with manufacturers who did not cooperate with the EU investigation. The investigation primarily delved into the potential distortion of competition in the EU due to state subsidies in China. Notably, models from BYD and Geely will face surcharges of 174 and 20 percent respectively. For all other electric cars produced in China and exported to the EU, a tariff of 21 percent will be imposed, provided that the manufacturers were cooperative during the investigation. The Commission identified 18 manufacturers meeting this criterion. Vehicles from manufacturers who were not cooperative will face a significantly higher surcharge of 381 percent. Companies like Tesla, producing the Model 3 in China for the European market, will be subject to the standard 21 percent tariff, although they have the option to apply for an individually calculated rate. Other players producing electric cars in China for the European market include BMW with its iX3, Great Wall Motors, Ora 03, and Nio with their ET5 and ET7 models.
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