EU sets new duties on imports of electric vehicles from China
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The European Commission has imposed countervailing duties on imports of electric vehicles from China for five years. The largest Chinese car manufacturers will now pay duties ranging from 17% to 35.3%.
The duties were imposed due to the threat of economic injury to EU producers amid unfair subsidization.
“The investigation found that the BEV value chain in China benefits from unfair subsidization which is causing threat of economic injury to EU producers of BEVs,” the communiqué says.
The amounts of duties for different Chinese electric vehicle manufacturers will be as follows:
- BYD: 17.0%.
- Geely: 18.8%.
- SAIC: 35,3%
- Tesla: 7.8%.
- Other companies that actively cooperated during the investigation: 20,7%
- companies that did not cooperate: 35,3%
These duties are imposed on top of the current base rate of 10%.
The European Commission will monitor the effectiveness of these measures and is considering a dialogue with China to find other solutions. Producers have the right to apply for an expedited review to receive an individually calculated duty rate.
Introduction of duties on imports of electric vehicles from China
Rumors of a possible increase in duties on electric vehicles from China in the European Union have been circulating for some time. Against this backdrop, the Swedish company Volvo, whose main owner is China's Geely, was considering moving part of its production from China to Belgium.
In response, China also began to hear statements about the possible introduction of up to 25% duties on imports of European and American brands.
In addition, China announced tighter controls on the export of certain types of aviation equipment and technologies.
