EU will impose 25% duties on Chinese EVs, Financial Times says
The move comes as European carmakers are being challenged by lower-cost Chinese EVs
12 June 2024 - 10:16
byDisha Mishra and Abinaya Vijayaraghavan
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Chinese NIO EVs on display in a Berlin showroom.
Picture: REUTERS
The European Commission will notify car makers on Wednesday that it will provisionally apply additional duties of up to 25% on imported Chinese electric vehicles from July, the Financial Times reported, citing people familiar with the matter.
Analysts have said they expect tariffsof between 10% and 25% on Chinese EVs, a move likely to prompt possible retaliation from Beijing. The European Commission has said Chinese EVs receive excessive subsidies.
The EU and China’s foreign affairs ministry did not immediately respond to Reuters’ requests for comment.
Less than a month after the US quadrupled dutiesfor Chinese EVs to 100%, Brussels is expected to set almost certainly far lower tariffs for imports from Chinese makers such as BYD and Geely, as well as for Western producers such as Tesla that export cars from China to Europe.
BYD, Geely, SAIC and Tesla did not immediately respond to Reuters’ queries on the report.
The move comes as European vehicle makers are being challenged by an influx of lower-cost EVs from Chinese rivals.
China has rebuked the EU over the anti-subsidy investigation, urged co-operation and lobbied individual EU countries, but not fully spelt out what its response to tariffs would be.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
EU will impose 25% duties on Chinese EVs, Financial Times says
The move comes as European carmakers are being challenged by lower-cost Chinese EVs
The European Commission will notify car makers on Wednesday that it will provisionally apply additional duties of up to 25% on imported Chinese electric vehicles from July, the Financial Times reported, citing people familiar with the matter.
Analysts have said they expect tariffs of between 10% and 25% on Chinese EVs, a move likely to prompt possible retaliation from Beijing. The European Commission has said Chinese EVs receive excessive subsidies.
The EU and China’s foreign affairs ministry did not immediately respond to Reuters’ requests for comment.
Less than a month after the US quadrupled duties for Chinese EVs to 100%, Brussels is expected to set almost certainly far lower tariffs for imports from Chinese makers such as BYD and Geely, as well as for Western producers such as Tesla that export cars from China to Europe.
BYD, Geely, SAIC and Tesla did not immediately respond to Reuters’ queries on the report.
The move comes as European vehicle makers are being challenged by an influx of lower-cost EVs from Chinese rivals.
China has rebuked the EU over the anti-subsidy investigation, urged co-operation and lobbied individual EU countries, but not fully spelt out what its response to tariffs would be.
Reuters
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