Etiqueta: subsidy

China will take all necessary measures to "firmly safeguard" its lawful rights and interests after a newspaper reported that the European Commission would impose tariffs of up to 25% on imported Chinese electric vehicles (EVs), its foreign ministry said on Wednesday. After an eight-month long investigation, the Commission, which oversees trade policy for the 27-nation European Union, is expected to notify carmakers on Wednesday that it will provisionally apply additional duties of up to 25% on imported Chinese EVs from next month. Growing alarm over Chinese industrial overcapacity flooding the EU with cheap products, including EVs, is opening a new front in the West's trade war with Beijing, which began with Washington's import tariffs in 2018.

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.

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

(Reuters) -Volvo cars has started to shift production of Chinese-made electric vehicles to Belgium in the expectation that the European Union will drive ahead with a crackdown on Beijing-subsidised imports, the Times reported on Saturday. Volvo, which is majority-owned by China's Geely, was considering halting sales of Chinese-built EVs bound for Europe if tariffs were introduced, the newspaper said, citing company insiders. However, the report added that shifting production of Volvo's EX30 and EX90 models from China to Belgium is expected to negate the need for the company to do so and that the company insisted suspending sales of EVs made in China was no longer being considered.

Chinese electric vehicle giant BYD is still committed to building a second factory in Europe and will roll out hybrid cars as the EV market slows down, a group executive told AFP. Stella Li, vice president for Europe and the Americas, also shrugged off a European Union probe that could lead to tariffs on Chinese EVs. "When your competition worries about you, that means that you're super good," Li said in an interview Thursday at the Top Marques auto show in Monaco.That means that Chinese cars ha

BYD and Tesla both saw record highs in new orders in China in May, according to Deutsche Bank.