financetom
Business
financetom
/
Business
/
Factbox-EU plans to hit China-based EV makers with additional tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Factbox-EU plans to hit China-based EV makers with additional tariffs
Oct 2, 2024 11:04 PM

LONDON (Reuters) -The European Commission plans to apply additional duties on imported electric vehicles made in China. In September it cut the proposed final tariffs on Tesla and slightly trimmed rates for others after taking into account submissions by the companies in its anti-subsidy investigation.

EU members will vote on the proposal on Friday.

The following tariffs are on top of the EU's standard 10% import duty for cars.

Here is a breakdown of the provisional tariffs by company:

BYD: 17%

Includes:

BYD Auto Co Ltd

BYD Auto Industry Co Ltd

Changsha BYD Auto Co Ltd

Changsha Xingchao Auto Co Ltd

Changzhou BYD Auto Co Ltd

Fuzhou BYD Industrial Co Ltd

Hefei BYD Auto Co Ltd

Jinan BYD Auto Co Ltd   

Geely: 18.8%

Includes:

Asia Euro Automobile Manufacture (Taizhou) Co Ltd

Chongqing Lifan Passenger Vehicle Co Ltd

Fengsheng Automobile (Jiangsu) Co Ltd

Shanxi New Energy Automobile Industry Co Ltd

Zhejiang Geely Automobile Co Ltd 

Zhejiang Haoqing Automobile Manufacturing Co Ltd

SAIC Group: 35.3%

Includes:

SAIC MAXUS Automotive Co Ltd

SAIC Motor Corp Ltd

Nanjing Automobile (Group) Corp

SAIC Volkswagen Automotive Co Ltd

SAIC GM Wuling Automobile Co Ltd

SAIC General Motors Co Ltd

Other companies the Commission said cooperated: 20.7%

Include:

Aiways Automobile Co Ltd

Anhui Jianghuai Automobile Group Corp Ltd

BMW Brilliance Automotive Ltd

Chery Automobile Co Ltd

China FAW Corp Ltd

Chongqing Changan Automobile Co Ltd

Dongfeng Motor Group Co Ltd

Great Wall Motor Co Ltd

Leapmotor Automobile Co Ltd

Nanjing Golden Dragon Bus Co Ltd

NIO Holding Co Ltd

XPeng Inc    

Volkswagen

Tesla (Shanghai) Co Ltd*: 7.8%

All other companies: 35.3% 

* The EU has set an individually calculated duty rate for Tesla after a request from the U.S. EV maker. It had earlier been designated as a cooperating company with a 20.8% tariff and then in August, it had cut the tariff to 9%.

Source: European Commission and Reuters reporting on VW

(Compiled by Josephine Mason; Editing by Elaine Hardcastle)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
IndiaMART Q1FY22: Subscribers decline sequentially: management says no common categories with JD Mart
IndiaMART Q1FY22: Subscribers decline sequentially: management says no common categories with JD Mart
Aug 5, 2021
IndiaMART InterMESH managed to report quarter-on-quarter revenue growth even amid the semi lockdown in the first quarter. The company recorded a net profit of Rs 88 crore and consolidated revenue of Rs 182 crore in the quarter ended June 30, 2021. However, its paying subscribers have declined sequentially.
Domestic air passenger traffic jumps 57% in July compared to June: ICRA
Domestic air passenger traffic jumps 57% in July compared to June: ICRA
Aug 5, 2021
Domestic air passenger traffic jumped 57 percent to around 49 lakh in July, reflecting a significant sequential as well as year-on-year growth amid a decline in coronavirus infections, according to a report. Recording continued recovery, traffic rose 56-57 percent to 48-49 lakh in July compared to June this year when it was about 31.1 lakh. As against June 2020, the growth is 132 percent, rating agency ICRA said in the report on Thursday.
Flipkart adds 4 supply chain facilities in Gujarat, helps create over 5,000 local job opportunities
Flipkart adds 4 supply chain facilities in Gujarat, helps create over 5,000 local job opportunities
Aug 5, 2021
Walmart-owned Flipkart on Thursday said it has expanded its network in Gujarat with the addition of four new supply chain facilities that will support local sellers from the state and cater to the growing demand for e-commerce. The new facilities are located in Ahmedabad and Surat, and are collectively spread across an area of nearly 5 lakh square feet, helping create more than 5,000 direct and indirect local jobs in the state, a statement said.
Supreme Court likely to give verdict on Amazon vs Future Retail case today
Supreme Court likely to give verdict on Amazon vs Future Retail case today
Aug 6, 2021
The Supreme Court is likely to announce its judgment on e-commerce giant Amazon's pleas against the merger of Future Retail Ltd (FRL) with Reliance Retail at 10:30 am on Friday, August 6.
Copyright 2023-2026 - www.financetom.com All Rights Reserved