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(ECNS) -- The European Commission (EU) on Thursday announced that nine months after the initiation of an ex officio anti-subsidy investigation, it has imposed provisional countervailing duties on imports of battery electric vehicles (BEVs) from China. Individual duties applied to the three sampled Chinese producers are 17.4 percent for BYD, 19.9 percent for Geely and 37.6 percent for SAIC. Other BEV producers in China, which cooperated in the investigation but were not sampled, are subject to the 20.8 percent weighted average duty. The duty for other non-cooperating companies is 37.6 percent. Compared to the rates pre-disclosed on June 12, provisional duties were adjusted slightly downwards. The provisional duties will apply as of Friday, for a maximum duration of four months. China has repeatedly expressed strong opposition to the EU's anti-subsidy investigation into Chinese EVs. Economic and trade frictions must be properly handled through dialogue and consultation, sai He Yadong, spokesperson for the Ministry of Commerce (MOC), at a press briefing Thursday. China hopes that the EU will work with it to meet each other halfway and show sincerity in advancing the consultation concerning the EU's anti-subsidy probe into EVs, He said. Chinese EVs producer NIO on Thursday announced that it would maintain the pricing of its products in the European market and would evaluate its market strategy based on the progress of tariff policies. “In Europe, NIO will continue to serve its users well. NIO believes that appropriate market competition is beneficial to users and hopes to reach a resolution with the EU before the final measures are implemented in November 2024,” according to its statement. Another Chinese producer XPeng Motors stated that the company is actively assessing the feasibility of establishing local manufacturing capabilities in Europe and taking appropriate measures to meet market demand. All current consumers awaiting delivery and future customers who place orders before the new tariffs take effect will not be affected by any price increases. BMW has accused the European Union of protectionism Oliver Zipse, chief executive of BMW, said: “The introduction of additional import duties leads to a dead end. “It does not strengthen the competitiveness of European manufacturers. “On the contrary; it not only harms the business model of globally active companies, but also limits the supply of electric cars to European customers and can therefore even slow down decarbonization in the transport sector. “Such measures heavily infringe the principle of free trade, which is also propagated by the EU.” In fact, after the EU announced plans to impose provisional tariffs on Chinese EVs on June 12, various voices of opposition have emerged. Chinese automakers such as SAIC Motor and Geely, as well as German automakers including BMW, Mercedes-Benz, and Volkswagen, have all expressed their opposition. On Wednesday, the German Association of the Automotive Industry said the planned tariffs against China-made EVs would be counterproductive for Europe's climate goals and harmful to its industry and consumers. The association has warned that Western car manufacturers in China would also be affected by the tariffs initiated by the EU, in some cases even worse than Chinese companies. |
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