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Market
Will SAIC Motor's EV sales in the EU decline due to the tariff by December 31, 2024?
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Resolution / Starting Odds
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Sales reports from SAIC Motor Corp. and market analysis
Story
EU Imposes Up to 36.3% Tariff on SAIC Motor's EVs Due to Uncooperative Stance
Aug 26, 2024, 05:31 AM
The European Union has imposed a significant tariff of up to 36.3% on Chinese electric vehicles (EVs), targeting companies like SAIC Motor Corp. The decision follows a countervailing investigation by the European Commission, which concluded on August 20, and is seen as an attempt to dominate the EV market. Chinese automakers and the country's leading auto association have opposed the EU's draft plan, expressing concerns over the security of shared information. SAIC Motor's "uncooperative" response to the EU's documentation requests contributed to the high tariffs.
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