Employees work on the assembly line of new energy vehicles at a factory of Chinese EV startup Leapmotor on April 1, 2024 in Jinhua, Zhejiang Province of China.
Shi Kuanbing | Visual China Group | Getty Images
The European Union on Wednesday said it would slap higher tariffs on Chinese electric vehicle imports, which it found benefit “heavily from unfair subsidies” and pose a “threat of economic injury” to EU EV producers.
In a statement, the EU said it is imposing a 38.1% tariff on battery electric vehicle (BEV) producers who did not cooperate with its investigation, and a lower 21% duty on carmakers in the Asian country who complied but have not been “sampled.”
Main Chinese BEV producer BYD was struck with a 17.4% tarrif, with Geely slapped with a 20% duty. The EU has also imposed its 38.1% tariff on SAIC.
All three producers were sampled in the EU probe.
This breaking news story is being updated.
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