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Tesla expects to raise price of China-made cars in EU after duty increase
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Tesla expects to raise price of China-made cars in EU after duty increase
Jun 13, 2024 4:39 AM

BERLIN, June 13 (Reuters) - Tesla expects to

increase the price of its Model 3 because of European Union

import duties on electric vehicles (EVs) made in China, the

carmaker said on its website on Thursday.

The message, displayed on Tesla's website for countries

including Germany, France, Ireland, Belgium and Hungary, urged

prospective buyers to place their orders in June. The message

did not specify the size of the expected price increase.

"We're anticipating a requirement for us to increase pricing

for Model 3 vehicles as of 1 July 2024," it said. "This is due

to additional import duties likely to be imposed on electric

vehicles manufactured in China and sold in the EU."

The European Commission said on Wednesday that it will

impose extra duties of up to 38.1% on imported electric cars

made in China from July, prompting Beijing to warn that it would

take measures to safeguard Chinese interests.

Tesla, which exports Model 3 cars from Shanghai to Europe,

was one of several companies that the European Commission said

had cooperated with its investigation and would therefore be

subject to a lower tariff of 21%.

The Commission added that Tesla could receive an

individually calculated rate of duty on its China-made EVs when

definitive duties are imposed in November.

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