Etiqueta: Volkswagen

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.

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.

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 said it will impose extra duties of up to 38.1% on imported Chinese electric cars from July, risking retaliation from Beijing which said on Wednesday it would take measures to safeguard its interests.

The European Commission said on Wednesday it would set provisional duties of up to 38.1% on imports of Chinese electric vehicles, a move likely to draw possible retaliation from China.

Volkswagen Group has responded to the European Commission's (EU) decision to impose additional tariffs of up to 38% on Chinese EVs, following preliminary results of its anti-subsidy investigation which found that prices are being distorted by Chinese state support.

The European Commission said it would impose provisional tariffs that would result in Chinese automakers facing additional duties of as much as 38%, up from the current level of 10%

Top manufactures included in Racing Car Engines market are as follow: Toyota, BMW, Volkswagen, Peugeot, Renault, Hyundai, Ford, Ferrari, Citroën, HONDA, Mercedes-Benz.

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News! EVs Now 18% of World Auto Sales Global plugin vehicle registrations were up 25% in April 2024 compared to April 2023. There were 1.2 million registrations. BEVs were up by 14% YoY, while plugin ... [continued]