08:10 AM EDT, 08/20/2024 (MT Newswires) -- The European Commission said Tuesday that it has lowered its import duties for Tesla (TSLA) vehicles made in China to 9% from 20.8%.

Last month, the Commission set duty rates for importers of battery electric vehicles made in China, which included a 37.6% rate for SAIC, 19.9% for Geely, and 17.4% for BYD. It also said that other BEV makers that cooperated in the EC's investigation, which included Tesla, would be subject to 20.8% weighted average duty.

On Tuesday the Commission said it granted Tesla an individual duty rate of 9% as an exporter from China. It also lowered the duty rates to 36.3% for SAIC, 19.3% for Geely, and 17.0% for BYD. Meanwhile, the duties for cooperating companies were raised to 21.3%, while the duties for non-cooperating companies were lowered to 36.3%.

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