Etiqueta: Tesla

Beijing on Thursday slammed EU tariffs on Chinese electric vehicles as protectionist behaviour even as the country's top auto exporter said the duties would not derail its expansion plans for Europe, including making EVs in Spain this year.

Shares of Chinese electric vehicle (EV) maker BYD Company (OTCMKTS:BYDDY) rallied on Thursday as investors cheered lower-than-anticipated additional tariffs imposed...

Find out why the BYD Atto 3 is the 2024 winner of the Best Value Electric Car award

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.

In the January-May period, BYD was No. 1 in China's NEV market with a 34.0 percent share, while Tesla was No. 3 with 6.7 percent.

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.

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