EU to Impose Tariffs on Chinese Electric Vehicles
By David Sachs
The European Commission plans to impose new tariffs on Chinese electric vehicles after a probe provisionally found that state subsidies unfairly hurt EU manufacturers.
All battery-electric vehicle producers in China that cooperated with the investigation will have to pay an additional duty of 21%, the Commission said. BYD, Geely, and SAIC will be subject to new tariffs of 17.4%, 20%, and 38.1%, respectively.
European carmakers including BMW, Mercedes-Benz, and Volkswagen face pricing and market-share pressure in China from homegrown manufacturers like BYD and Geely, which also have growth plans in Europe.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
June 12, 2024 06:11 ET (10:11 GMT)
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