The European Union is preparing to impose hefty tariffs on electric cars from China for a duration of 5 years, according to the European Commission on Tuesday. Brussels states that the tariffs being close to implementation on electric vehicles manufactured in China are a response to the financial support that Beijing provides to Chinese electric car manufacturers.
On Tuesday, the European Commission published details about the tariffs it plans to impose, which have been slightly adjusted downward from previously imposed temporary tariffs. For "Tesla" cars manufactured in China, the tariff will be set at 9%, while for "BYD Auto" and most Chinese companies cooperating with Brussels, the tariffs will range between 17% and 21%.
For other Chinese companies that refused to provide data regarding the financial support they received from the Chinese government, the tariffs will be 36%, which is more than a third of the car's price. These tariffs will be added to an existing tariff of 10% already imposed on cars manufactured in China. The new tariffs (36%) are scheduled to take effect in October if approved by EU member states.
