[UPDATE] EU Announced Tariff Rates on China-Made EVs

by | 12. Jun 2024 - 12:29 | Politics

The EU Commission published the provisional import tariff rates on China-made battery electric vehicles (BEVs) on Wednesday. The Commission specified the rates for three sampled companies: 17.4 percent for BYD, 20 percent for Geely, and 38.1 percent for SAIC. Other companies cooperating with the investigation would face a tariff of 21 percent, and non-cooperating companies would face a maximum rate of 38.1 percent. The Commission specifically named Tesla as a company that may receive an individually calculated rate and added that other companies not sampled can ask for a review with a deadline of nine months. Discussions with Chinese authorities are ongoing. Should these not come to a solution, these rates will become effective on 4 July.

The move follows a lengthy investigation into Chinese government subsidies on EVs launched in October last year (we reported). The FT adds that the tariffs will hit all EVs made in the People’s Republic, including ones from Western companies like Tesla, Dacia, or BMW. According to research firm Transport & Environment, 19.5 percent of electric vehicles sold in Europe in 2023 were made in China, which the FT reports as roughly ten billion Euros. The additional import levy could thus cost approximately two billion Euros.

Photo: iStock/ismael juan

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