...this is further setback for EV demand and is expected to result in retaliatory actions from China.
...Geopolitics is slowly but surely 'killing' EV demand growth.
...bad news for EV & lithium.
BREAKING NEWS
EU to impose duties on Chinese EVs
https://x.com/hjesanderson/status/1800829167459766649
As part of its ongoing investigation, the Commission has provisionally concluded that the battery electric vehicles (BEV) value chain in China benefits from unfair subsidisation, which is causing a threat of economic injury to EU BEV producers. The investigation also examined the likely consequences and impact of measures on importers, users and consumers of BEVs in the EU.
Consequently, the Commission has reached out to Chinese authorities to discuss these findings and explore possible ways to resolve the issues identified in a WTO-compatible manner.
In this context, the Commission has pre-disclosed the level of provisional countervailing duties it would impose on imports of battery electric vehicles (‘BEVs') from China. Should discussions with Chinese authorities not lead to an effective solution, these provisional countervailing duties would be introduced from 4 July by a guarantee (in the form to be decided by customs in each Member State). They would be collected only if and when definitive duties are imposed.
The individual duties the Commission would apply to the three sampled Chinese producers would be:
• BYD: 17,4%;
• Geely: 20%; and
• SAIC: 38,1%.
Other BEV producers in China, which cooperated in the investigation but have not been sampled, would be subject to the following weighted average duty: 21%.
All other BEV producers in China which did not cooperate in the investigation would be subject to the following residual duty: 38,1%.
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