EU Implements New Tariffs on Chinese Electric Vehicles

The European Commission is set to impose additional tariffs on electric vehicles imported from China. Adjusted tariffs are listed for various companies, with Tesla receiving a reduced rate after company submissions. EU members will vote on these proposals, which add to the existing 10% duty on cars.

The European Commission is gearing up to enforce additional duties on electric vehicles imported from China. This comes after the Commission adjusted the proposed final tariffs, slightly reducing them for companies like Tesla, following submissions from the firms.

The proposed tariffs, which will be voted on by EU members this Friday, are additions to the EU's already standard 10% import duty on cars. The breakdown of provisional tariffs by company is notable.

For BYD, the tariffs stand at 17%, while Geely faces 18.8%, and SAIC Group has the highest at 35.3%. Other companies, including Aiways and NIO, are looking at a tariff of 20.7%. Interestingly, Tesla, which was initially set at 20.8%, has had their rate cut to 7.8% after discussions. Source: European Commission and Reuters.

(With inputs from agencies.)