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Tesla reaps benefits as EU cuts planned tariffs on Chinese-made electric vehicles

  • Elon Musk’s firm will face the lowest rate of 9 per cent, but Chinese companies will have to pay rates of up to 36.3 per cent

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EVs made by the Chinese car giant BYD face rates of 17 per cent. Photo: AP
Tesla is the big winner from a European Commission’s move to lower proposed tariff rates on Chinese-made electric vehicles.
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On Tuesday, the European Union’s secretariat announced a revision to its provisional duties, with a top-end rate of 36.3 per cent for companies that include state-owned SAIC.

This was lowered from the initial proposal of 37.4 per cent following consultations with car makers.

Tesla will pay the lowest rate of 9 per cent after Elon Musk’s company asked for a separate investigation into the level of subsidies it had received from the Chinese government.
Tesla owner Elon Musk is also CEO of SpaceX and owner of X, formerly known as Twitter. Photo: Reuters
Tesla owner Elon Musk is also CEO of SpaceX and owner of X, formerly known as Twitter. Photo: Reuters

It was not included in the sample of three Chinese companies on which the weighted average tariff was based.

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