European Union (The European Union’s tariffs on battery electric cars made in China will apply from Friday, July 5, 2024.
The EU released details of upcoming tariffs on electric and wind-powered vehicles made in China last month. Initially, the tariffs were set at 38.1%. In late June, The European Union has revised part of the proposed tariffs. For specific Chinese automakers.
The tariffs imposed on every company shipping electric cars from China are not the same. The European Union has set specific tariffs for the three major Chinese companies. The new tariffs will be imposed in addition to the 10% tariff imposed by the EU.
- BYD: 17.4%
- Geely: 19.9%
- Psyche: 37.6%
- Chinese electric car manufacturers that cooperated with the European Commission investigation [i.e., Tesla and BMW]: 20.8%
- Chinese EV manufacturers that did not cooperate with European Commission investigations: 37.6%
In 2023, the European Union The Commission has launched an anti-subsidy investigation into Chinese electric vehicle imports. The investigation found that Chinese states were Pumping support across the entire local supply chain Subsidies have affected the production of electric vehicles, affecting both domestic and foreign companies. Subsidies have affected the final price of fully assembled electric vehicles shipped to Europe.
according to Local media in EuropeThe new tariffs will be temporary, and the rates will be in place until EU member states complete their implementation by voting. The first vote on the new tariffs will take place in two weeks. EU member states are expected to complete their decision within four months.
Customs authorities will require bank guarantees from Chinese EV exporters while member states vote on new tariffs. As a result, EV customers may not be immediately affected by the tariffs.
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