China-built EVs hit with EU tariffs; Nio says it may have to raise prices in Europe

Europe on Thursday confirmed tariff increases on electric vehicles imported from China to the continent with automakers criticizing the move and warning it could lead to price increases.

The levies will affect automakers from Chinese giant BYD to, potentially, European brands that make cars in China, and even U.S. giant Tesla, which has a factory in Shanghai.The European Union on Thursday confirmed its decision to hike tariffs on electric vehicles imported from China — with one automaker issuing fresh warnings that it may have to raise prices as a result.On Thursday, European regulators confirmed that these duties, which have been lightly tweaked to range from 17.4% to 37.

The tariffs that take effect Friday are provisional and last for four months. In that time, EU member states must vote on so-called "definitive duties," which would last five years.that he hopes the two sides will "meet each other halfway, show sincerity, speed up the consultation process, and, on the basis of rules and reality, reach a mutually acceptable solution as soon as possible.

The company added it is "actively assessing the feasibility of establishing local manufacturing capabilities in Europe." Xpeng currently manufactures all of its cars in China. A European factory could help offset some of the tariffs.

پاکستان تازہ ترین خبریں, پاکستان عنوانات

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