NBCT - What EU Tariffs On Chinese Electric Vehicles Could Mean For The Energy Transition
2024-06-19 14:55:00 ET
Summary
- We think the additional tariffs that the EU plans to impose on EVs from China could slow down the bloc’s decarbonisation goals.
- It is unlikely to slow China’s EV push into Europe.
- EU member states remain divided on the proposed tariffs.
By Ewa Manthey & Rico Luman
New levies could be as high as 48%
The proposed further duties on EVs from China are a response to what the EU perceives as unfair subsidies by China for its own companies. Non-Chinese car companies that produce EVs in China and ship to the EU will also be affected. This includes BMW, Tesla, which produces its Model 3 in Shanghai, and Renault. The provisional tariffs are due to start on 4 July, following an investigation that started last year.
Tariff rates, on top of the existing 10% rate, vary by carmaker. Some carmakers, like Tesla, which was the biggest exporter of EVs from China to the EU last year, are still negotiating with the EU....
What EU Tariffs On Chinese Electric Vehicles Could Mean For The Energy Transition