In this interview with the BBC, Automotive News Asia Editor Hans Greimel explains how Chinese automakers may deal with tariffs on EVs by the European Union. Additional duties of up to 38.1% will be applied to imported Chinese EVs starting next month. More on this linked in our bio. #InTheNews #BBC #AutomotiveNews #WeAreCrain
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The European Union has decided to impose tariffs on Chinese electric vehicles, reaching up to 38%. Starting July, these tariffs will be as follows: - 17.4% on #BYD cars - 20% on #Geely cars - 38.1% on #SAIC cars In the past five years, Chinese car sales in Europe have surged. For instance, around 155,000 Chinese cars were sold in Europe in the first nine months of 2022, a significant increase compared to previous years. #ElectricVehicles #ChineseCars #EuropeanMarket #TradeTariffs #AutomotiveIndustry
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>>🚨 "Threat of economic injury" 🇨🇳 EU imposes steep tariffs on Chinese electric cars NOW. The EU announced steep tariffs on China-made battery electric vehicles (BEVs) effective July 5th. This decision is set to reshape EU-China relations and may trigger retaliatory actions against European producers. The tariffs, varying based on parent company, turnover, and suspected subsidies, will be in addition to the existing 10% rate: - BYD 17.4% - GEELY 19.9% - SAIC: 37.6% - Other cooperating producers like Tesla and BMW Group 20.8% - Non-cooperating producers: 37.6% Looks like people will keep driving diesel cars in East Europe for a long time.. Who is next? 🇪🇺 Temu, SHEIN and Alibaba Group - with customs on orders under 150€.. #EU #China #ElectricCars #Tariffs #GlobalEconomy 🌐🚗
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New car plants in Europe? With the massively increased tariffs in the US, carmakers from China will look elswhere to go. They will follow the rule book which has been written by their Japanese and Korean counterparts before: - Start with Imports - Move on with CKD plants locally - Build fully operational assembly plants once the volumes increase This will be a good thing in a sense that abandoned plants from incumbent car makers will get a new life - see the Chery investment in Barcelona revitalising an old Nissan plant.
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🚨 Big news in the automotive industry! The EU is gearing up to impose tariffs on Chinese electric cars. This move could have significant implications on the global electric vehicle market. As the industry continues to evolve, these developments are crucial for stakeholders to monitor. Check out the full story here: bbc.co.uk 🚗 #EU #China #ElectricCars https://ift.tt/IWp8wnb
🚨 Big news in the automotive industry! The EU is gearing up to impose tariffs on Chinese electric cars. This move could have significant implications on the global electric vehicle market. As the industry continues to evolve, these developments are crucial for stakeholders to monitor. Check out the full story here: bbc.co.uk 🚗 #EU #China #ElectricCars https://ift.tt/IWp8wnb
bbc.co.uk
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The provisional measures, while still leaving a room for adjustment until July 4th, are clearly demonstrating the need for international companies to actively engage with EU and the ongoing investigation. The cost of not cooperating/engaging is the highest tariff bands of (10%+) 38% “Different tariff rates will be applied to each carmaker with vehicles made by BYD, the world’s largest electric-vehicle manufacturer, incurring a 17.4 per cent rate. Manufacturers that co-operated with the EU investigation but have not been sampled for individual rates would be subject to a 21 per cent average rate. Those that had not co-operated will be hit by a 38 per cent rate, on top of the existing 10 per cent duties, still well short of the 100 per cent duties applied by the US.” Happy to engage with international entities with EU footprint/focus, as the path to navigating tariff and non-tariff barriers becomes increasingly complex, costly, and in some cases prohibitive for business. #eutarriffs #electricvehicles #europeancommisison #china
EU to hit Chinese electric cars with tariffs of up to 48%
ft.com
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🚫 The hashtag #EUtariffs, #ChineseElectricCars, #BBC Hey everyone! Have you heard the news? The EU is gearing up to impose tariffs on Chinese electric cars 🚗⚡ According to BBC, this move is aimed at addressing concerns about the impact of Chinese electric vehicle exports on European manufacturers. What are your thoughts? Let's start a conversation and share our perspectives on this development. Check out the BBC article for more details! #EUtariffs #ChineseElectricCars #BBC https://ift.tt/IWp8wnb
🚫 The hashtag #EUtariffs, #ChineseElectricCars, #BBC Hey everyone! Have you heard the news? The EU is gearing up to impose tariffs on Chinese electric cars 🚗⚡ According to BBC, this move is aimed at addressing concerns about the impact of Chinese electric vehicle exports on European manufacturers. What are your thoughts? Let's start a conversation and share our perspectives on this develo...
bbc.co.uk
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European Commission is expected to disclose the tariffs it plans to impose on Chinese EVs, this afternoon. Analysts predict that it could be between 10% and 25%, is certainly far lower than the 100% tariff set by the US. But this 25% is still going to be a problem and might trigger a possible retaliation in China for EU car makers. German automakers in particular are heavily dependent on sales in China, might be severally impacted if China acts back. It is true that the imports of China-made EVs have dominated local OEMs in Europe. Chinese brands' share of EVs sold in the EU has risen to 8% from below 1% in 2019 so far, and could reach 15% in 2025. Yet, I don't think this measure of import tariff increase alone can save the local automobile industry. I only expect that more and more Chinese OEMs will set up their factories in Europe to manage the situation, that is going to be a lot more struggle for the local companies! What do you think? https://lnkd.in/eSa3ZyyY. #eMobility #electricvehicles #EV
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Trade barriers on Chinese EVs a ‘big trap’, says Stellantis CEO Full Article Link >>> https://lnkd.in/gA7GQinr May 17, 2024 04:13 AM IST Trade barriers on Chinese EVs a ‘big trap’, says Stellantis CEO Placing 100 percent tariffs on Chinese cars, as the United States has just done, is a “huge trap”, the head of the Stellantis automobile group said Thursday. Trade barriers on Chinese EVs a ‘big trap’, says Stellantis CEO […] . . Latest IND . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews
Trade barriers on Chinese EVs a ‘big trap’, says Stellantis CEO
latestind.com
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Chairman of the Board of Management at Mercedes-Benz Group Ola Kaellenius argues that embracing #protectionism as a response to the rising influx of Chinese EVs is a strategic misstep for Europe’s long-term #automotive success. The share of made-in-China vehicles in Europe is expected to rise to 25.3% in 2024 as emerging Chinese brands like BYD expand their footprint in the region. Tariffs will need to be raised to at least 25% to make EV sedans and SUVs imported from China more expensive than their EU equivalents. Thoughts? #pricepolicy #competitiveadvantage
Mercedes-Benz urges for eased tariffs on Chinese electric vehicles in the EU - Dimsum Daily
https://www.dimsumdaily.hk
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