Etiqueta: Tariffs

MILAN (Reuters) -Shares of some of Europe's biggest carmakers fell further on Thursday on uncertainty over how China might respond to the EU's new tariffs on imported Chinese electric vehicles to combat what Brussels sees as excessive subsidies from Beijing. "The risk is that China could also take action that would particularly hit the German OEMs who are exporting to China," said Stifel analyst Daniel Schwarz in Frankfurt. Some investors, however, expect a balanced response from Beijing as Chinese carmakers will still be able to export to Europe, albeit at lower margins.

After months of investigation, the European Union (EU) has announced provisional tariffs on electric vehicles (EV) imported from China, because of what it sees as Beijing’s unfair support for companies that undercut European carmakers.

The latest investor updates on stocks that are trending on Thursday.

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.

Chinese electric carmakers may be crying foul over the European Union's imposition of additional tariffs, but they have several options to keep growing, including shifting production to the continent and using fat profit margins to absorb some of the hit.

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.

Citi opens upside catalyst watch on BYD; sees strong exports, domestic markets

Investing.com-- Citibank analysts opened a 30-day upside catalyst watch on BYD Co's (SZ:002594) Hong Kong shares (HK:1211) on Wednesday, stating that lower-than-feared EU import tariffs and strong domestic demand presented tailwinds for the...

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