EU Plans 9% Tariff on Tesla's China-Made Cars, Down from 20.8%, Final by October 30

Aug 20, 2024, 12:16 PM

The European Union plans to introduce a 9% tariff on Tesla vehicles imported from China, reducing the previously proposed rate of 20.8%. This decision comes amid broader EU measures to impose tariffs on Chinese electric vehicles, with some companies facing duties as high as 36.3%. The move is part of the EU's effort to address concerns over state subsidies for Chinese manufacturers. The tariff reduction for Tesla follows inspections at Tesla's Giga Shanghai facility and a recalculation based on the company's lower subsidy levels. Other Chinese automakers, such as BYD and Geely, will also see adjusted tariffs. The new tariffs are set to be finalized by the October 30 deadline and will be in addition to the EU's standard 10% duty on car imports.