The Chinese Association of Automobile Manufacturers (CAAM) has expressed dissatisfaction with the European Union’s decision to impose tariffs on Chinese electric vehicles, with immediate effect. The decision, which was expected, however, has immediate effects as of Friday, July 5th.
In a statement released through the Chinese application “WeChat,” the Association expressed its dissatisfaction, stating, “CAAM deeply regrets this decision and firmly considers it unacceptable.”
The Association believes that Chinese electric vehicle manufacturers have cooperated with the European Commission’s investigation into Chinese subsidies, but the inquiry ignored this fact and pre-selected the results.
It should be noted that the European Union has imposed tariffs of up to 37.6% on imports of electric vehicles manufactured in China for a period of four months.
Thus, BYD electric vehicles will now be subject to a 17.4% tariff, the lowest rate, while Geely, the group that owns Volvo, Lotus, Zeekr, and smart, among other brands, will face a 19.9% tariff. SAIC, which owns MG, has a tariff of 37.6%.
In addition to the three mentioned manufacturers, brands that cooperated with the EU investigation but were not included in the sample will be subject to a 20.8% tariff.
