Hyperdrive
China EV Maker’s Tepid Reply to EU Proves Costly in Tariff Spat
- SAIC’s “uncooperative” response drove highest tariffs from EU
- Carmaker concerned about security of info shared: sources
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SAIC Motor Corp.’s harsh treatment by European Union negotiators is becoming a cautionary tale of Chinese companies being ill-equipped to operate in Western business and political domains.
Of the three Chinese automakers singled out by the EU, SAIC has been subjected to an extra 36.3% tariff on the EVs it sells in Europe. That’s more than twice BYD Co., which will pay an additional 17% on top of existing customs duties of 10%. Volvo Car AB parent Zhejiang Geely Holding Group Co. is in the middle with an added charge of 19.3%. The proposed tariffs were revised down slightly last Tuesday.