financetom
Business
financetom
/
Business
/
QUOTES-Reaction to EU duties on China-built EVs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
QUOTES-Reaction to EU duties on China-built EVs
Jul 4, 2024 3:35 AM

BRUSSELS, July 4 (Reuters) - The European Union will

impose tariffs of up to 37.6% from Friday on imports of electric

vehicles made in China, EU officials said on Thursday,

ratcheting up tensions with Beijing in Brussels' largest trade

case yet.

Here are some reactions to the news:

EUROPE'S BIGGEST CARMAKER VOLKSWAGEN:

"The timing of the EU Commission's decision is detrimental

to the current weak demand for BEV vehicles in Germany and

Europe.

"The negative effects of this decision outweigh any benefits

for the European and especially the German automotive industry.

The Volkswagen Group is confidently accepting growing

international competition, including from China, and sees this

as an opportunity - this also benefits our customers."

CHINESE EV MAKER NIO:

"At this stage, NIO maintains the pricing of their current

models in its European markets. However, it cannot be ruled out

that prices may be adjusted at a later stage as a result of

these tariffs being imposed.

"Despite these developments, NIO is fully committed to the

European market: we believe in fostering competition and

consumer interest, and we hope to reach a resolution with the EU

before definitive measures are enforced in November 2024."

SAIC'S COUNTRY MANAGER FOR ITALY ANDREA BARTOLOMEO:

"For the moment we will not change prices of cars in our

line-up" in Italy.

EU TRADE CHIEF VALDIS DOMBROVSKIS:

"Obviously we are in consultation with member states now,

also prior to imposition of those provisional duties and it's

clear that member states are also interested to protect their

automotive industries from unfair competition.

"Our aim is to ... ensure fair competition and level playing

field. Therefore, once again, we do not see any basis for

retaliation.

"Those talks with China are ongoing and indeed should a

mutually beneficial solution emerge, we can also find ways not

to apply at the end of the day the tariffs.

"But it is very clear this solution (would) need to solve

that market distortion that we are currently having ... and it

needs to be market compliant."

EUROPEAN COMMISSION SPOKESPERSON:

"What is clear is that what the EU wishes for is a solution.

(...) The introduction of tariffs (...) is a means to correct an

imbalance and unfair competitive situation to the detriment of

producers of electric vehicles in the EU, compared to those who

are producing vehicles in China."

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 >
Copyright 2023-2026 - www.financetom.com All Rights Reserved