FILE - Jerry Gan, CEO of Geely Auto Group unveils the Galaxy Starship a new technology flagship AI-driven SUV prototype during Auto China 2024 in Beijing, Thursday, April 25, 2024. The European Union threatened on Wednesday, june 12, 2024, to hike tariffs on Chinese electric vehicles, escalating a trade dispute over Beijing’s subsidies for the exports that Brussels worries is hurting domestic automakers.
The higher duties are not a goal in themselves but “a means to correct an imbalance,” commission spokesman Eric Mamer said Thursday. “We certainly hope we can come to a solution which would allow us not to have to move forward on this path.” Subsidized solar panels from China have wiped out European producers — an experience that European governments don’t want to see repeated with their auto industry.
BYD’s Seal U Comfort model sells for the equivalent of 21,769 euros in China but 41,990 euros in Europe, according to Rhodium Group figures. The base model ofIt’s not clear what impact the duties will have on car prices. Chinese carmakers are able to make some cars so cheaply that they could absorb the duties in the form of lower profits instead of raising their prices.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CARmagazine - 🏆 382. / 55 Read more »
Source: cleantechnica - 🏆 565. / 51 Read more »
Source: InsideEVs - 🏆 579. / 51 Read more »