Etiqueta: Leapmotor

(Bloomberg) -- Chinese electric-vehicle stocks gained as analysts said the European Union’s preliminary announcement of tariff increases was in line with market expectations and manageable for companies with cost strength like BYD Co Ltd. Most Read from BloombergHunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.US Inflation Broadly Cools in Encouraging Sign for Fed OfficialsFed Officials Dial Back Rate Forecasts, Signal Just One ‘24 CutStock Bull Run Breaks Record on Fed Decision Day

The European Commission said on Wednesday it would set provisional duties of up to 38.1% on imports of Chinese electric vehicles, a move likely to draw possible retaliation from China.

China has been accused of dumping cheap electric cars on EU countries. But poor sales, price wars and tariff threats have prompted a change of mood among some Chinese auto producers.

The EU is set to impose tariffs of up to 38% on Chinese electric vehicles to stop the dumping of cheap cars. But some auto producers are already scaling back investments in Europe due to poor sales.

To counteract market dumping, the European Union will slap tariffs of up to 38% on electric vehicles from China. This puts additional strain on China’s EV manufacturers, which already face poor sales in Europe.

We recently compiled a list of the 15 Biggest EV Stocks in the World in 2024 and in this article, we discuss whether Zhejiang Leapmotor Technology Co., Ltd. (HKSE:9863) is the largest EV company globally in 2024. According to the Global EV Outlook 2024 by the International Energy Agency, electric car sales surged in 2023, reaching […]

BYD is building it first plant in Hungary, while Leapmotor will use a Stellantis factory in Poland, as Chery eyes production in Spain and possibly Italy; Great Wall, SAIC and Dongfeng are also assessing opportunities

European governments may be wary of budget Chinese electric vehicles flooding their markets but they're also fiercely competing for a share of the manufacturing investment and jobs the new competitors bring. While the European Union investigates China's auto subsidies and considers tariffs on imports, national governments across the bloc are dangling their own incentives to attract Chinese automakers looking to build European factories. Manufacturing costs for Chinese EV makers including BYD, Chery Automobile and state-owned SAIC Motor are much lower at home but they are nonetheless keen to set up in Europe to build their brands and save on shipping and potential tariffs, said Gianluca Di Loreto, a partner at consultancy firm Bain & Company.