EC Proposes Final Countervailing Duties on Chinese EVs, Tesla Faces Lowest Tax Rate at 9%

Publicado: Aug 21, 2024 07:22
The European Commission has pre-disclosed its proposal for final countervailing measures in the anti-subsidy investigation against electric vehicles from China, proposing to impose countervailing duties on pure electric vehicles produced in China and the EU for a period of five years, with the tax rates ranging from 9% to 36.3%. The specific tax rates are as follows: 9% for Tesla, 17% for BYD, 19.3% for Geely, 36.3% for SAIC Motor, 21.3% for other cooperating companies, and 36.3% for all non-cooperating companies. Compared with the previous provisional tariff rates, BYD's tax rate has dropped to 17%, Geely's to 19.3%, the tax rate for cooperating companies has risen to 21.3%, and the tax rate for non-cooperating companies remains at 36.3%. Tesla emerges as the "biggest winner" with its tax rate dropping to 9%. Analysts point out that Tesla enjoys good relations with China and Europe, receives fewer subsidies for foreign-funded enterprises, and benefits from lower import costs. The European Commission initially did not conduct a field visit to Tesla, but did so in June this year after Tesla applied for a separate examination.

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