China tells carmakers to pause investment in EU countries backing EV tariffs, sources say

Quick Summary:

New EU tariffs of up to 45.3 per cent came into effect on Oct 30.

Even before Beijing issued its guidance, Chinese companies were cautious about independently setting up production sites in Europe, as it requires large sums of investment and a deep understanding of local laws and culture.

The Chinese EV giant has also been considering relocating its European headquarters from the Netherlands to Hungary due to cost concerns, two separate people with knowledge of the matter said.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: SingaporeCanadaChinaFranceGermanyHungaryItalyNetherlandsPolandSpainUnited States

Topics: European People Cent Tariffs Europe China Countries Investment Automakers Chinese Told

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 14:31:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 675 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23346110

View Article Analysis

About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 17 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 3 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #25

Publisher Details

Frequently Asked Questions