EU Adjusts Tariffs on Tesla and Chinese EVs Amid Global Electric Shift

The EU is considering reducing the suggested import duties on electric vehicles from Tesla and some Chinese car manufacturers following feedback received from these companies, according to a Tuesday report by Reuters.

According to a confidential informant close to the situation, Reuters has revealed plans to reduce Tesla's electric vehicle tariff from 9% to 7.8%. Meanwhile, Geely's tariff is expected to be cut from 19.3% to 18.8%. These proposed tariff adjustments would be in addition to the European Union's usual 10% car import fee.

Upcoming 2024 MG Cyber

Every car manufacturer won’t be fortunate enough to avoid additional charges. It's been said that China’s BYD won’t experience any relief from the planned 17% tax increase on its electric vehicles. Furthermore, car companies that stayed out of the negotiations, like SAIC which offers the MG brand in Europe, will face a steep tariff of 35.3% on their cars.

Last month, the European Union disclosed its suggested tariff levels, allowing China and the car manufacturers involved a period of 10 days to provide feedback. According to Reuters, the European Commission factored in these responses when formulating the updated, reduced tariff rates. However, these tariffs await ratification through a vote by the EU's 27 member nations. They can be annulled if a qualified majority – 15 member states representing 65% of the EU's population – vote to reject them.

BYD Dolphin Electric Vehicle – European Specifications

The enactment of European Union tariff regulations might not be timely enough to halt the surge of Chinese electric vehicles. BYD has initiated the sales of its Dolphin compact hatchback below $30,000 in various markets, and there's potential for the BYD Seagull to hit the market under $20,000 in specific regions.

In a recent move, the Canadian federal authorities declared a complete 100% import duty on electric vehicles manufactured in China, mirroring a similar stance taken by the United States under President Biden's directive to exclude Chinese electric vehicles. Furthermore, presidential hopeful Donald Trump has vowed to extend these stringent tariffs to encompass all categories of vehicles, regardless of whether they are electric.

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