The European Union (EU) is preparing to reduce tariffs imposed on some manufacturers of electric vehicles produced in China.
According to the “Reuters” report, the American company Tesla is expected to see its import tax decrease from 9% to 7.8%, while Geely, a group that includes brands such as Volvo, Polestar, Lynk & Co, and Lotus, among others, will see its rate drop from the current 19.3% to 18.8%.
As a result of this reduction, other Chinese brands like BYD, a Chinese automaker and global leader in new energy vehicles, will continue to bear a rate of 17%, while SAIC, which includes MG among other brands, is expected to face an additional rate of 35.3%. This is the same rate applied to all companies deemed “non-cooperative” with the investigation conducted by the European Commission, which concluded that the “value chain of 100% electric vehicles in China benefits from unfair subsidies, posing a threat of economic harm to EU electric vehicle manufacturers”.
It is important to note that the imposition of these tariffs is temporary until next October, when the values will be put to a vote by the 27 EU countries. It is certain that countries like Spain have already indicated that they wish to review the application of import tariffs on Chinese electric vehicles to avoid a trade war with Beijing.
