EU’s move to hit Chinese EV makers with higher tariffs will not affect pricing much: Experts

Michael Shu, managing director of BYD Europe, stands next to the Yangwang U8 car during the media day of the 91st Geneva Auto Show in Geneva, Switzerland on Feb 26, 2024. on Chinese electric vehicle imports will not have much impact on prices, as China’s automakers can absorb the extra costs and still make a profit, analysts told CNA.“Chinese companies are way ahead of the curve here,” said Mr Anthony Sassine, senior investment strategist at investment firm KraneShares.

The tariffs are set to kick in on Jul 4, but could be adjusted as Chinese companies have till then to provide evidence that could challenge the EU’s findings.EU to slap extra tariffs of up to 38% on Chinese electric cars Given that market leader BYD was hit with the lowest amount of tariffs, this would only cement its leading position, Mr Jones said.

Mr Sassine from KraneShares concurred, noting that the EU's attempts to align with the United States has led to “very disappointing decisions”. He also called the EU’s move “a bit perplexing” as it will likely not help European competitiveness in the long run or prevent the leading Chinese EV makers from extending their market lead.

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