Hyperdrive
EU Tariffs on China EVs to Reach as High as 48% With New Levies
- The EU has been investigating Chinese subsidies for EVs
- Move to cut imports, raise EV prices for consumers: think tank
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The European Union will impose additional tariffs on electric cars shipped from China starting next month, taking levies to as much as 48% in a move that further escalates trade tensions and adds to the cost of buying an EV.
The bloc formally notified carmakers including BYD, Geely and MG owner SAIC of the charges on battery-electric cars due to be implemented around July 4, the European Commission said, following an investigation of subsidies that started last year. China’s EV manufacturers have been pushing more aggressively into Europe amid a domestic price war and years of building a lead in the technology.