04.07.2024, 19:11
The European Commission has imposed duties on the import of Chinese electric vehicles into the EU
Source: OREANDA-NEWS
OREANDA-NEWS The European Commission has imposed temporary additional duties on the import of Chinese electric motor vehicles (BEV) into the European Union, while negotiations with China are continuing, the EC said in a statement.
Nine months after the investigation began, "the commission concluded that the BEV value chain in China benefits from unfair subsidies, which poses a threat of economic damage to BEV producers in the EU," the document says.
"Consultations with the Chinese government have intensified in recent weeks following an exchange of views between European Trade Commissioner Valdis Dombrovskis and Chinese Trade Minister Wang Wentao. Contacts are continuing at the technical level in order to achieve a solution compatible with the WTO, which adequately solves the problems raised by the European Union," the European Commission said.
For the largest Chinese manufacturer of electric vehicles, BYD Co., the additional import duty will be 17.4%, for Geely - 19.9%, for SAIC Motor - 37.6%. The EU has already imposed 10 percent duties on the import of electric vehicles from China.
Additional duties for other Chinese manufacturers who cooperated with the EC will amount to 20.8%, for companies that did not cooperate with the regulator - 37.6%.
Nine months after the investigation began, "the commission concluded that the BEV value chain in China benefits from unfair subsidies, which poses a threat of economic damage to BEV producers in the EU," the document says.
"Consultations with the Chinese government have intensified in recent weeks following an exchange of views between European Trade Commissioner Valdis Dombrovskis and Chinese Trade Minister Wang Wentao. Contacts are continuing at the technical level in order to achieve a solution compatible with the WTO, which adequately solves the problems raised by the European Union," the European Commission said.
For the largest Chinese manufacturer of electric vehicles, BYD Co., the additional import duty will be 17.4%, for Geely - 19.9%, for SAIC Motor - 37.6%. The EU has already imposed 10 percent duties on the import of electric vehicles from China.
Additional duties for other Chinese manufacturers who cooperated with the EC will amount to 20.8%, for companies that did not cooperate with the regulator - 37.6%.
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