EV CUSTOMS DUTY
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.
Capture the theme at the right time: Is investment in EV a good long-term bet?
The rise in EVs can be attributed to two main factors, first, a substantial global push by governments to achieve net zero emissions through various policy measures; and second, a nearly 90% decrease in battery costs over the past ten years, which has made EVs more affordable and, as a result, brought them closer to cost parity with internal combustion engines (ICE)
US automobile industry threatened by prospects of Chinese EVs entering the country through the Mexican border
The US automobile industry has been threatened by the prospects of low-cost Chinese Electric Vehicles (EVs) reaching the country through the Mexican border. The US-Mexico-Canada trade agreement provides for free movement of goods and services between the three countries. The average price of an EV manufactured in the US has been priced at $55,000 and the Chinese EVs are priced at half this rate.
Explained: What happens next in the EU investigation into Chinese EVs?
China and the European Commission plan talks to address proposed tariffs on Chinese-made electric vehicles entering the EU, potentially easing tensions. The EU intends to impose provisional duties on these vehicles, ranging from 17.4% to 38.1%, with the deadline set for July 4. Negotiations between the EU and China are expected, with stakeholders having until July 18 to provide feedback. The Commission will publish its findings by July 4, and decisions on provisional duties will follow.
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.
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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.
Why India needs micro EVs ?
The 2nd car. The small car for the city. The wife's car. The college kid’s car. The urban machine - affordable, efficient, compact, cheerful. And that’s something the small EVs can be really good at. Yet, how many EV brands are launching cars that fit that description? And those that are closest to the brief e.g. the MG Comet EV, are not exactly inexpensive.
Renault reveals Alpine electric A290, sets sights on sporty EVs for profit boost
Renault presented the first electric sports car under its Alpine sports brand to compete with Chinese rivals and capture a share in the growing premium EV market.
Strategic reforms in customs duties, GST, commerce to push India's inclusive growth, says GTRI
The think tank suggested increasing the GST exemption limit for a firm's annual turnover from 40 lakh to 1.5 crore as this will be transformative for India's MSME sector, promoting job creation and growth. Firms with less than Rs 1.5 crore turnover make up over 80 per cent of registrations but contribute less than 7 per cent of the tax collected, it said adding a yearly turnover of 1.5 crore equals 12-13 lakh monthly turnover, translating to just Rs 1.2 lakh at a 10 per cent profit margin.
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.
Govt to hold 2nd meet with stakeholders to issue draft guidelines for new EV policy
The Ministry of Heavy Industries is drafting guidelines for the new electric vehicle policy to attract global automakers like Tesla. Automakers, including Vietnam's Vinfast, must invest as per the new norms to avail incentives under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) approved on March 15, 2024.
Amitabh Kant on Tesla: 'India won't make any further changes in its EV policy to suit a specific company'
India can'on being asked why Tesla didn't come to India after the CEO announced an India visit in April but cancelled at the last moment.
Tesla 'silent'; yet to communicate its India plans: Official
American tech billionaire Elon Musk, who was scheduled to visit India on April 21-22, had postponed his visit at the last moment citing "very heavy Tesla obligations".
Govt to come out with detailed guidelines for investment under EV policy
The government, through the Ministry of Heavy Industries, is creating detailed guidelines for companies seeking investments under the electric-vehicle policy. The guidelines will cover duty concessions, setting up manufacturing units, and incentives for auto firms applying under the policy.
Early enthusiastic EV adopter phase probably over; focus on mkt development: Tata Motors Grp CFO PB Balaji
Tata Motors is focusing on market development to boost electric vehicle (EV) penetration in India and address concerns of new customers. The company missed its guidance of selling 1 lakh units of EVs in FY24 and is confident of crossing the milestone this fiscal. Tata Motors is committed to the expansion of EVs and plans to launch its Curvv EV this year. The company is addressing what is stopping EV adoption faster and clear the pathway for it to start accelerating again.
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.
India may not extend EV concessions to Chinese firms: Report
EV concessions for Chinese firms like BYD in India face obstacles due to national security concerns and FDI requirements under the new policy. The GTRI report warns of potential large-scale entry of Chinese auto firms in the local market.
Tesla advisor joins India’s first consultative meeting on new EV policy
According to multiple people who were part of the meeting, the representative from The Asia Group did not make any comments during the consultative meeting and maintained he was there as ‘an observer’. The meeting comes days ahead of Tesla chief Elon Musk’s visit to India.
How Amazon became the largest private EV charging operator in the US
In a little more than two years, Amazon has installed more than 17,000 chargers at about 120 warehouses around the US.
India's new EV policy to help launch many eco-friendly premium-quality SUVs: VinFast Auto
The Indian government's new electric vehicle (EV) scheme aims to drive large investments in manufacturing, create competencies and upskilling, set up a robust supply chain and offer consumers world-class, zero-tailpipe emission vehicles, VinFast India CEO Pham Sanh Chau said in a statement.
Should Tata, Mahindra, and other Indian automakers worry about Tesla & co.
M&M and Tata Motors had in the past advised govt not to lower import duty on electric vehicles and protect domestic firms and their foreign investors. However, DPIIT Secretary Singh said the balanced EV policy's aim to boost the Indian electric vehicles market with import duty concessions for global players like Tesla, ensuring stringent norms and limited imports to benefit domestic manufacturers.
EV policy: FinMin notifies 15 pc duty on e-vehicle imports
Earlier today, the Heavy Industries Ministry notified a 'Scheme to promote manufacturing of electric passenger cars in India', under which import duty concessions would be given to companies setting up manufacturing units with a minimum investment of USD 500 million. Following that, the finance ministry notified that EVs of a minimum value of USD 35000 can be imported at 15 per cent duty up to year 2031 by companies that set up manufacturing facilities under the scheme.
Pitch to Tesla, India readies the red carpet for global majors with new EV policy
India introduced a scheme offering concessional tariffs to global EV players like Tesla. The policy aims to boost electric passenger car manufacturing by providing incentives for fresh investments and maintaining import duty regulations to encourage local production. Commenting on the move, Mahendra Nath Pandey, Union Minister for Heavy Industries said, “Companies setting up manufacturing facilities for EVs will be allowed a limited import of cars at lower custom duties.”
India not to tailor policy for Tesla, all global EV makers welcome in India: Piyush Goyal
India is attracting EV players amid Beijing-Washington tensions. The government rolled out production-linked incentives for advanced chemistry cells and components. The UK seeks customs duty concessions on EV exports to India. The Economic Survey 2022-23 estimates India's EV market will create five crore jobs by 2030. Tata Motors is a leading player in passenger EVs.
VinFast echoes Tesla's demand for India to cut import duty on electric cars
Vietnamese electric vehicle maker VinFast has requested India to reduce import duties on its cars for about two years while a local manufacturing plant comes on stream in Tamil Nadu. VinFast hopes to start production, for domestic sales first and then exports, by the middle of next year. India is considering the requests but has not made a decision.
Ashok Leyland hands over keys of 14T Boss Electric truck to Billion E-Mobility
Ashok Leyland has begun delivering its electric trucks, with the keys of the 14T Boss Electric Truck handed over to Billion E-Mobility at an event in New Delhi. The company's Managing Director and CEO, Shenu Agarwal, stated that this delivery marks a significant milestone towards sustainable transportation. Ashok Leyland also showcased its future-ready vehicles at the Bharat Mobility Global Expo, including a Hydrogen Fuel Cell Bus, LNG Tractor, EV Tractor, and Electric LCVs. Billion E-Mobility expressed gratitude for the quick delivery of the technologically advanced electric truck.
Rationalisation of duty structure important for fast adoption of new technologies: BMW India Head
If the duties were less, it will allow the companies to bring in products and offer it to the customer at the right price, he added.
Startup ecosystem: Why it's time to acknowledge and learn from challenges of 2023
Even though funding dropped in 2023, some of the larger companies with cash reserves were able to acquire struggling products and companies at reasonable prices
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