Etiqueta: SAIC

BYD, the Chinese electric vehicle maker can manage the European Union’s additional tariffs on EVs from China—and may grab market share from more severely affected rivals.

The European Commission made a significant announcement on Wednesday, revealing its intention to levy additional duties on imported Chinese electric vehicles, a move that could potentially ignite tensions with China. These tariffs, slated to take effect next month, could reach as high as 38.1%, depending on the manufacturer. According to the company breakdown provided by the Commission, the provisional tariffs are as follows: - BYD (17.4%) This includes various entities under BYD, such as BYD Auto Co Ltd and Changsha BYD Auto Co Ltd.

The EU slams Chinese electric vehicles with tariffs as high as 38.1%, accusing them of unfair subsidies. BYD, Geely, and SAIC are likely hardest hit. New tariffs will come into action starting July 4th, 2024. ​​EU carmakers express concern about potential retaliation from China, raising worries of a broader trade war., Electric Vehicles News - Times Now

(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

As retaliation for the EU’s tariffs on Chinese electric vehicles, China could potentially slap duties on things like European pork and dairy products, as well as brandy and luxury goods.

Trade war looms as Brussels hits firms with import charges

The European Commission said it will impose extra duties of up to 38.1% on imported Chinese electric cars from July, risking retaliation from Beijing which said on Wednesday it would take measures to safeguard its interests.

La decisión de Bruselas de imponer impuestos a los coches eléctricos chinos afectará a empresas como BYD Co (OTC:BYDDF) y SAIC, así como a Tesla Inc (NASDAQ:TSLA), que fabrica en China. A partir del próximo mes, la Comisión Europea tiene previsto aplicar impuestos provisionales de hasta el 25% a los coches eléctricos chinos importados, con el objetivo de contrarrestar las subvenciones que los fabricantes chinos reciben de su gobierno. Esta medida podría llegar a representar alrededor del 35%, mu

After concluding that EVs imported from China have an unfair advantage due to government subsidies, the European Commission said it...

Volkswagen Group has responded to the European Commission's (EU) decision to impose additional tariffs of up to 38% on Chinese EVs, following preliminary results of its anti-subsidy investigation which found that prices are being distorted by Chinese state support.