EU threatens to impose tariffs of up to 38.1% on Chinese-made EVs
Chinese-made battery electric vehicles (BEVs) imported into the EU are currently subject to a 10% import tariff, but it has been suggested that new tariffs of up to 38.1% may be imposed.
Electric vehicle value chains in China
EU announces plan to impose 38.1% tariff on Chinese-made EVs | NHK | EU
The European Commission, the EU's executive body, will begin a formal investigation into whether the value chain of Chinese-made BEVs may be benefiting from unfair subsidies from October 14, 2023. As a result, it has provisionally concluded that the subsidies pose a threat of economic harm to EU BEV manufacturers.
Following this conclusion, the European Commission is in contact with Chinese authorities to seek a resolution to the issue, but has announced provisional countervailing duties of up to 38.1% on imports of BEVs in case the talks fail to reach a resolution.
The 'Chinese-made BEVs' covered by the law are not limited to those made by Chinese manufacturers, but also include those manufactured in China by European, American and other manufacturers.
Specifically, BYD will be hit with a 17.4% tariff, Geely with a 20% tariff, and SAIC with a 38.1% tariff. In addition, companies that decline to be sampled will be hit with an average 21% tariff, and those that do not cooperate with the survey will be hit with a 38.1% tariff.
It has been noted that this tariff is in addition to the existing 10% import tariff on BEVs.
Imports of subsidised electric cars from China
https://ec.europa.eu/commission/presscorner/detail/en/qanda_24_3232
In the United States, the Trump administration imposed a 25% tariff on Chinese-made EVs, but President Biden has announced an increase of four times that amount to 100%.
President Biden announces increase in tariffs on Chinese electric vehicles, Trump says 'not enough' | NHK | Automobiles
https://www3.nhk.or.jp/news/html/20240515/k10014449451000.html
When it comes to Chinese-made BEVs, there has been notable growth, with BYD surpassing Tesla's sales in the fourth quarter of 2023.
Chinese EV manufacturer BYD, which has surpassed Tesla in EV sales, is becoming a major threat to traditional automakers - GIGAZINE
In addition, BYD has announced the Qin L DM-i and Seal 06 DM-i, which offer a range of 2,100 km and low fuel consumption of 2.9 liters per 100 km, thereby increasing its presence in the market.
PIAD Automotive Official Website PIAD Automotive - New Energy Vehicle Leader
PIAD Automotive Official Website PIAD Automotive - New Energy Vehicle Leader
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