Market share reports from automotive industry analysts

EU Imposes Up to 45.3% Tariffs on Chinese EVs; China Advises Automakers to Pause EU Investments

Oct 30, 2024, 02:20 AM

The European Union has imposed additional tariffs on electric vehicles imported from China, effective October 30, ranging from 7.8% to 45.3%, on top of the existing 10% import duty. The tariffs, set for five years, target companies like Tesla, facing a 7.8% tariff, and China's SAIC Motor, facing a 35.3% tariff, amid concerns over alleged state subsidies providing unfair competition. China's Commerce Ministry strongly opposes the move, stating it "does not agree with or accept" the decision and has filed a complaint with the World Trade Organization. In response, Beijing has advised Chinese automakers to pause investments in EU countries that supported the tariffs, such as France and Italy. The escalating trade tensions risk retaliation from China and may strain EU-China trade relations.