EU to increase tariffs on Chinese EVs to protect its car industry: Report

Quick Summary:

In recent times when the US and Canada have put 100 per cent tariffs on Chinese EVs.

For instance, for Tesla, it is 7.8 per cent, BYD, 17 per cent; Geely, 18.8 per cent; SAIC at 35.3 per cent; other EV producers in China who cooperated in the investigation but have not been individually sampled, 20.7 per cent, and other EV producers in China who did not cooperate, 35.3 per cent.

As per Euro News, the entry into force was widely expected after the inconclusive vote earlier this month where member states failed to mount the necessary majority in favour or against the measures.

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Article Details

Category: BusinessFinance

Markets: IndiaCanadaChinaGermany

Topics: Electric vehicles Electric vehicle tariff EU Chinese EV tariff Global auto industry

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 22:24:07 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 678 words

Reading Time: 4 minutes read

Sentences: 18 lines

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Copyright Owner: © Business Standard

News ID: 23340905

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