Etiqueta: SAIC

Brussels' decision to impose tariffs on Chinese electric vehicles will impact companies such as BYD Co (OTC:BYDDF) and SAIC, as well as Tesla Inc (NASDAQ:TSLA), which manufactures in China. Starting next month, the European Commission plans to apply provisional duties of up to 25% on imported Chinese EVs, aiming to counteract the subsidies Chinese manufacturers receive from their government. This measure could escalate to about 35%, significantly lower than the 100% duties applied by the U.S., t

BRUSSELS (AP) — The European Union moved Wednesday to hike tariffs on Chinese electric vehicles, escalating a trade dispute over Beijing’s subsidies for the exports that Brussels worries is h…

The European Union will impose additional tariffs of up to 38.1 percent on electric vehicles imported from China starting from July.

The European crackdown comes after Joe Biden announced sweeping tariffs on $18 billion worth of Chinese goods, including a 100% tax on Chinese EVs.

While BYD made a fortune out of the 900% increase in EV sales in Southeast Asia last year, its regional rival Vinfast is upping the ante

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.

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.

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