Etiqueta: subsidy

There may be no more important question for the West’s competitive position in advanced industries than whether China is becoming a rival innovator. While the evidence suggests it hasn’t yet taken the overall lead, it has pulled ahead in certain areas, and in many others Chinese firms will likely equal or surpass Western firms within a decade or so.

China’s Commerce Minister Wang Wentao met with Roberto Vavassori, president of the Italian Association of the automotive industry, in Italy on Saturday to discuss the European Commission (EC)’s tariff against Chinese electric vehicles (EVs) and cooperation between China and Italy in the EV sector, the Ministry of Commerce (MOFCOM) said on Sunday.

On August 20, 2024, the European Commission disclosed the draft decision on the anti-subsidy investigation (AS689) against battery electric vehicles (BEV) for passengers originating in China, disclosing that it intends to impose definitive countervailing duties of 17% -36.3% on Chinese exporters (the individual duty rate granted to Tesla is 9%).

According to GlobalData, BYD Auto has the potential to grow into one of the top ten best-selling brands in the region, but faces challenges.

Tesla and BYD are emerging as major winners in the global EV race following the EUs decision to drastically reduce tariffs on Chinese imports, a strategic shift that could redefine market dynamics. EU Slashes Tariffs on...

Electric cars made in China are getting a break after the EU cut proposed tariff rates on EV imports. Tesla...

Singapore emerged as one of the main markets of focus for BYD in the region, with the carmaker launching an aggressive marketing campaign in the city-state

Deutsche Bank also expects Tesla to sell 45,000 units at retail in China in July, Li Auto at 48,000 units and Zeekr at 15,000 units.

As the global automotive industry rapidly electrifies, China’s consolidation of electric vehicle supply chains has caused geopolitical tensions. This has led both the United States and European Union to raise import tariffs on Chinese EVs – risking a possible trade war. This DGAP Policy Brief compares the approaches of the US and EU and recommends how Germany can support the EU’s position while ensuring fair competition for its automotive industry.

The 21st Changchun International Auto Expo kicked off on Saturday in Changchun, Jilin province, attracting around 1,100 vehicle models, including over 300 new energy varieties, from 124 domestic and foreign automakers.