EUROPE INCREASES TAX ON CHINESE EV
Europe is slapping tariffs on Chinese electric vehicles - for now. Here's what to know
EU raises customs duties on Chinese electric vehicles due to unfair subsidies. Tariffs aim to address market imbalance. Negotiations ongoing between EU and China. Concerns about impact on European jobs and green technology production. Uncertainty looms over potential solutions and retaliatory measures.
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union imposed provisional duties of up to 38 per cent on Chinese electric car imports due to alleged unfair state subsidies, sparking concerns of a trade war. The move was criticised by China as "politically motivated" and "protectionist." European countries are divided on the issue, with Germany fearing harm to its auto industry. Talks with China continue, with hopes for a negotiated solution to avoid escalating tensions.
Once rebuffed, a Chinese company finds the Ambani route to India
It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.
EU governments hesitant on Chinese EV tariffs as trade spat escalates
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers.
China's Xi Jinping greets EU Council president ahead of EV tariffs taking effect
China's President Xi Jinping conveyed his congratulations to incoming European Council President Antonio Costa, emphasizing the importance of China-EU relations. This comes ahead of the European Commission's decision to impose tariffs of up to 37.6% on Chinese electric vehicles (EVs), citing state subsidies benefiting Chinese firms. Xi reaffirmed China's commitment to its partnership with the EU, rejecting accusations of unfair subsidies on Chinese EVs. The EU faces internal divisions over supporting these tariffs, with Germany leaning towards opposing them due to significant automotive sales in China, while France supports them firmly.
EU governments waver over Chinese EV tariffs as trade spat escalates
EU countries debate supporting tariffs on Chinese electric vehicles in Brussels amid concerns over Beijing's possible retaliation affecting EU exports like cognac and pork.
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Tesla deliveries set to fall for second straight quarter
The company is expected to deliver 438,019 vehicles for the April to June period, according to an average estimate based on forecasts from 12 analysts polled by LSEG, seven of whom slashed their expectations in the past three months. The EV maker is expected to announce the results on Tuesday.
‘Father’ of China EV industry calls for investment talks with EU
The panic coming from the EU is caused partly by the fact that Chinese foreign investment hasn’t kept up with the pace of exports, Wan Gang said. One way to improve relations would be to resume talks on the Comprehensive Agreement on Investment, he said.
Revving up: Fuelled by PLI, Indian automakers eye global EV space, targeting Europe & other developed markets
Indian auto manufacturers are seizing the export opportunity in the electric vehicle (EV) market, driven by increasing demand for cleaner mobility in developed countries and government support. Companies like Maruti Suzuki and Hero MotoCorp are gearing up to export their EV models to Europe, leveraging India's frugal manufacturing capabilities. With India's production-linked incentive scheme and alignment with global standards, automakers aim to challenge Chinese dominance in the EV sector and establish India as an EV export hub.
Electric vehicles: Desi automakers are seizing export opportunities driven by increased demand for cleaner mobility
Domestic auto makers like Maruti Suzuki, Hero MotoCorp, and TVS Motor are seizing the export opportunity in the electric vehicle market. Maruti Suzuki is set to export its first electric SUV to Europe, Hero MotoCorp is launching its VIDA V1 electric scooter in European countries, and TVS Motor is expanding to the European Union with its electric scooter iQube.
EU and China set for talks on planned electric vehicle tariffs
The confirmation came after China's commerce ministry said its head Wang Wentao, and Dombrovskis, executive vice president of the European Commission, had agreed to start consultations over the EU's anti-subsidy investigation into Chinese EVs.
China and European Union agree to talks in bid to head off trade war
China and the European Union have decided to initiate talks aimed at resolving an increasingly tense tariff dispute, with billions of dollars in trade hanging in the balance. According to the Chinese Commerce Ministry, discussions will be held between China's commerce minister, Wang Wentao, and the European Union's trade commissioner, Valdis Dombrovskis. The focus will be on addressing the European Union's proposal to impose tariffs on electric cars imported from China, a move that has sparked significant concern.
What happens next in the EU investigation into Chinese EVs?
The European Commission plans to impose provisional duties on electric vehicles (EVs) from China, ranging from 17.4% to 38.1%, in addition to the existing 10% tariff. These duties are set to take effect by July 4 as part of an anti-subsidy investigation to protect EU industry. Following publication of findings on July 4, interested parties have until July 18 to comment before final duties are determined.
The secret behind Chinese EV industry's rise: $231 billion in 15 years
China's EV industry received $231 billion in government subsidies and aid from 2009 to 2022. Support per vehicle decreased, with sales tax exemptions being over half the total. Research suggests EU and US tariff responses. EV quality is improving, challenging global automakers.
EVs versus pork: China has its hand on a raw nerve of Europe
The escalating trade tensions between Europe and China over electric vehicles have the potential to ignite a new trade war. As Europe imposes tariffs on Chinese EVs, China retaliates by targeting European farmers, particularly in the pork industry. This tit-for-tat strategy threatens to impact various sectors on both sides.
Counterstrike! China eyes trade war targets across Europe
Trade war: China is preparing to retaliate against the European Union over proposed tariffs on electric cars. Targeted products include brandy from France, pork from Spain, wine primarily from France, and cars from Germany. The potential trade barriers aim to comply with WTO rules but could impact European exporters significantly.
Diversion ahead? For Chinese EVs, the road may fork out to India
The European Union's decision to hike tariffs on cheap electric vehicles made by Chinese companies has sparked concerns about unfair competition and the impact on the global auto sector. The move could lead to a reshuffling of the market dynamics, with potential consequences for both Chinese and European automakers.
What to know about Europe's extra tariffs on Chinese electric cars
The tariffs, which have been expected for months, come on top of existing 10% duties, but the level of their impact has been disputed. Some European automakers argue they will set off a trade war, but other experts have said they will not stop China's dominance in the industry.
Europe wants affordable electric vehicles from China. But not at the cost of its own auto industry
The European Union plans to increase tariffs on Chinese-made electric vehicles due to unfair subsidies. This move aims to address the surge in Chinese EV exports to Europe, posing a threat to EU manufacturers and green tech industries.
Chinese EVs to be hit with multi-billion-euro tariffs at European Union toll gates
The European Union plans to increase tariffs on Chinese electric vehicles to 25%, despite German warnings of a trade war. France and Spain support the move to protect European manufacturers and generate revenue. Currently, the EU imposes a 10% duty on Chinese EVs, while China taxes European imports at 15%. This decision follows the U.S. raising duties on Chinese EVs to 100% and will see BYD, Geely, and Tesla, which export from China to Europe, hurt in the process.
How China's EV makers aim to beat Tesla, legacy automakers in Europe
Chinese EV titans BYD, Chery and Great Wall Motor (GWM) are preparing a fusillade of product launches - about 20 over the next five years - and spending heavily on sales and marketing in their most important export market.
Volkswagen plans cheaper battery model 'from Europe for Europe'
Volkswagen has announced plans for a cheaper electric model, priced around 20,000 euros ($21,800), to be introduced in 2027. The model will offer entry-level electric mobility from Europe for Europe. Volkswagen also plans to unveil a range of battery-powered cars for under 25,000 euros by the end of 2025, including two compact cars from its VW and Cupra brands, as well as two small SUVs from VW and Skoda.
Tesla doing damage-control, discounts for European fleet buyers
Tesla faces challenges in Europe as repeated price cuts hurt leasing companies' fleets and slow service alienates corporate customers. Tesla is offering unofficial discounts and addressing service complaints, but struggles with falling resale values and competition from Chinese and legacy automakers. Fleet customers demand better service and lower repair costs.
Will China become the cat among India's EV pigeons?
Chinese electric vehicles are causing concern in the US and Europe due to their affordability and efficiency. The US has responded by imposing tariffs on Chinese EVs and lithium-ion batteries. India may now become a target for Chinese EVs. Stellantis is considering manufacturing Leapmotor's electric vehicles in India to avoid tariffs.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
How Volvo landed a cheap Chinese EV on U.S. shores in a trade war
Volvo's EX30, a China-made EV, challenges Tesla with Geely's cost-efficiency and Volvo's quality. It symbolizes China's EV dominance, U.S. tariff challenges, and the evolving global EV market landscape.
Tesla's Sales Drop: A sign that its grip on the EV market is slipping
Tesla faced a sharp decline in quarterly sales, sparking concerns about Elon Musk's leadership as competitors like BYD, Kia, and Hyundai saw increases in electric vehicle sales. The market is shifting, with mainstream buyers possibly put off by Tesla's unconventional design and service issues. The company must address challenges to regain momentum.
Beyond Tesla…Teslar, Teslast: India to reduce EV import duty for Tesla, other global automakers
India has agreed to reduce import duties on electric vehicles (EVs) for companies like Tesla, clearing the way for the automaker to enter the Indian market. The reduced duty, from 70-100% to 15%, applies to all global companies, not just Tesla, and is tied to a minimum investment of $500 million. While some argue against such concessions, noting that previous entrants faced no such benefits, the move could open the door for Tesla to compete in India's growing EV market, which is currently dominated by more affordable options.
More Indians in global rich list as Chinese slip, Europeans lag
Hurun's Rupert Hoogewerf discusses the wealth disparities among Indians, Chinese, and UK individuals. He emphasizes the confidence of Indian businessmen and the growth in the number of affluent individuals on the Hurun India Rich List.
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