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EU lowers planned tariff on Tesla's china-made electric vehicles to 9%
Industry News- Aug 21,24
The tariffs are in addition to the EU's standard 10% duty on car imports.
The European Commission has reduced its proposed import tariff on Tesla's China-made electric vehicles from 20.8% to 9%, following a request from Tesla to recalibrate the rate based on the specific subsidies it had received. This decision comes as part of the EU's broader anti-subsidy investigation into Chinese-made electric vehicles, which had initially led to the imposition of punitive duties as high as 37.6% in July.
Tesla, classified as a cooperative party in the investigation, received a reduced tariff after the Commission sent a team to Tesla's facilities in China to verify the subsidies the company had obtained. The investigation found that Tesla benefitted from fewer subsidies compared to Chinese EV producers targeted in the probe.
Despite the reduction for Tesla, the Commission upheld its stance that Chinese EV production benefits extensively from government subsidies, setting final duties of up to 36.3% for non-cooperative firms. The tariffs are in addition to the EU's standard 10% duty on car imports.
Some Chinese firms in joint ventures with European automakers may also see reduced tariffs as the EU continues to refine its approach to managing competition with Chinese EV manufacturers.
(Business Standard)
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