On Tuesday, the European Commission released the draft results of its prominent investigation into alleged subsidies for imports of Chinese electric vehicles, incorporating some adjustments to the proposed punitive tariffs.
According to information disclosed by the European Commission, the punitive tariffs on the sampled Chinese electric vehicle companies BYD, Geely, and SAIC are 17.0%, 19.3%, and 36.3%, respectively. And the punitive tariff on a Chinese-made Tesla is 9%, with an average rate of 21.3% for cooperating companies and 36.3% for non-cooperating companies.
For this, the CAAM (China Association of Automobile Manufacturers) stated that the high punitive tariffs imposed by the European Commission present significant risks and uncertainties for Chinese companies operating in and investing in Europe. This action is likely to undermine the confidence of Chinese businesses in the European market and possibly have severe adverse effects on the development of the EU automotive industry, local job creation, and the achievement of green and sustainable development.
Source: WeChat Official Account—起点锂电
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