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New tariffs on electric cars from China may be reduced

The EU is expected to adjust downwards in the near future the customs duties that are to be imposed on electric cars manufactured in China from November, reports the news agency Bloomberg, citing anonymous sources.

» Updated: 04 October 2024, 24:10

» Published: 10 September 2024

New tariffs on electric cars from China may be reduced
Photo: Chinatopix/AP/TT

For American Tesla, a reduction of the tariff on cars manufactured in China to 8 percent is planned. This can be compared to 9 percent in the proposal from earlier this year.

The adjustments are made based on new information from electric car manufacturers, according to Bloomberg's sources.

The EU governments will vote on the tariffs before they come into force.

The new tariffs on Chinese electric cars now planned will be added to an already existing tariff of 10 percent on all goods from China.

On Monday, the news service Mlex reported that Tesla's tariff rate for Chinese electric cars would be reduced to 7.8 percent and that the tariff rate for the Chinese car manufacturer with the highest tariffs would be reduced to 35.3, down from 36.3 percent.

The EU tariffs on electric cars from China are primarily aimed at limiting the flow of cheap electric cars from Chinese manufacturers such as mass producer Byd, MG manufacturer SAIC Motor, and Volvo Cars owner Geely.

Large Chinese electric car manufacturers that have cooperated with the EU, such as Dongfeng Motor and Nio, will receive slightly lower tariff rates than Byd, which is planning an electric car factory in Hungary and aims to start selling its low-price model Seagull on a large scale in Europe in 2025.

The market share of Chinese car brands in the EU's total sales of electric cars had increased to 6.9 percent last year, up from 1.1 percent in 2020.

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By TTThis article has been altered and translated by Sweden Herald

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