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Up to 36.3% tax! EU on China's electric cars, Tesla 9%

On August 20, local time, the European Commission disclosed to interested parties a draft decision on the imposition of final countervailing duties on imports of pure electric vehicles from China. Making minor adjustments to the proposed rates, BYD:17.0%, Geely:19.3%, SAIC:36.3%, other cooperating companies:21.3%, and all other non-cooperating companies:36.3%, it decided to impose a separate tariff rate on Tesla as a Chinese exporter, set at 9% at this stage, with any potential measure valid for five years. The EU-China Chamber of Commerce issued a statement expressing strong dissatisfaction and resolute opposition to this trade protectionist approach by the EC, after China filed a lawsuit in the World Trade Organization (WTO) over the EU's provisional countervailing measures on electric vehicles. The EU has always questioned this, recently, Germany's “Agora Transportation Transformation” think tank and the Boston Consulting Group jointly released a study showing that if Germany wants to achieve the goal of having 15 million electric cars by 2030, it will have to rely on Chinese automakers.

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