EU imposes additional tariffs on Chinese electric cars
Initial ruling: BYD faces 17. 4% duty, Geely 20%, and SAIC 38. 1% on Chinese car imports from July 4.
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The European Commission has announced that it will impose additional customs duties on electric vehicles imported from China, starting July 4. The move aims to address unfair competition in the market, citing "unfair subsidies" benefiting Chinese battery electric vehicles (BEVs).
The investigation, which began last year, has provisionally concluded that Chinese EVs are receiving unfair support, creating a competitive gap. The commission has set individual duties for specific Chinese manufacturers, including BYD at 17.4%, Geely at 20%, and SAIC at 38.1%.
Other Chinese producers not sampled by the commission will be subject to a duty rate of 21%, while those that did not cooperate in the investigation will be hit with a residual duty of 38.1%. The EU's executive vice-president for economy and trade commissioner, Valdis Dombrovskis, emphasized that the goal is not to close the EU market to Chinese EVs but to ensure fair competition.
The new tariffs will come into effect on July 4, pending a final decision. The move is expected to have a significant impact on the electric vehicle market in Europe, particularly in countries like Germany, France, and the UK, which have seen a surge in demand for Chinese-made EVs in recent years.
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