The European Union is to finalize the taxes it will apply to electric cars produced in China. The decision will be put to a vote this week.
The European Union plans to vote on October 4 whether to impose additional 45% customs duties on imports of electric vehicles (EVs) made in China, sources told Bloomberg on condition of anonymity. Agerpres.
The member states of the European Union have received a draft regulation for the proposed measures, those relating to the taxation of electric cars produced in China, which are then sold in Europe. The sources claim that the vote was slightly delayed, amid last-minute negotiations with Beijing. The two sides tried to find a way to eliminate the need for these additional customs duties.
What triggered the adoption of customs surcharges on Chinese electric cars?
The decision came following an investigation launched by the European Commission that showed China’s unfair subsidization of its electric car industry, and the imposition of tariffs is necessary so that European car manufacturers are not disadvantaged by the higher prices at which these cars can be sold .
In July this year, the European Commission adopted a provisional set of taxes on electric cars imported from China and sold in the Old Continent. Based on the investigation, the European Commission concluded that China’s electric car production chain is unfairly subsidized, posing an economic threat to EU battery electric vehicle manufacturers. The investigation also analyzed the possible consequences and impact of these measures on importers, users and consumers of electric vehicles in the Community bloc.
These taxes also apply to cars produced by European brands in China, not just to domestic automakers. However, more and more Chinese car companies want to open factories in Europe precisely to avoid penalties.
Source: www.promotor.ro
