[TechWeb] Recently, the European Commission announced plans to impose temporary countervailing duties on electric vehicles imported from China starting from July 4.
This decision has attracted widespread attention around the world.
The move is seen as a protectionist act that could trigger an international trade war and could have a negative impact on China’s electric vehicle industry.
In response, German Federal Minister of Digital and Transport Volk Wiesin, Hungarian Ministry of State Economy and Norway Chancellor of Finance Vedum all expressed opposition to the EU’s imposition of temporary countervailing duties on Chinese electric vehicles, believing that the EU should support trade liberalization rather than imposing punitive tariffs.
The China Association of Automobile Manufacturers expressed regret for this and firmly opposed this practice.
They believe that the European Commission ignored the facts in disclosing information on China’s electric vehicle countervailing investigation, insisting that there are high “subsidies” in China’s electric vehicle industry, causing damage to the EU electric vehicle industry.
European carmakers such as BMW Group, Mercedes and Volkswagen also explicitly oppose such taxes, arguing that they would escalate trade conflicts and harm the European auto industry.
In addition, Tesla may receive a separate tax rate as an EU company producing in China.
Chinese electric vehicle manufacturer NIO Automobile also expressed strong opposition, arguing that increasing tariffs would hinder global electric vehicle trade and have a negative impact on environmental protection, emission reduction and sustainable development.
Weiyuan announced its entry into the European market in May 2021, choosing Norway as its “first stop” and gradually expanding its services to Germany, the Netherlands, Denmark, Sweden and other countries.
In August 2022, NIO held the NIO Berlin conference in Berlin, marking its determination to fully enter the European market.
NIO founder Li Bin expressed concern about the EU’s countervailing investigation during a phone call on the first quarter of 2024 earnings report and expected preliminary results to be announced next week.
He emphasized that NIO will flexibly adjust its strategy based on changes in tariff policies to cope with possible market changes.
The impact of this EU tax on China’s electric vehicle industry is uncertain, but it is foreseeable that this move may have a negative impact on trade relations between China and Europe.
China’s electric vehicle industry is developing rapidly, and the EU’s taxation behavior may hinder its exports and affect its competitiveness in the global market.
The EU should engage in constructive dialogue with China and seek a level playing field for the international trade environment, rather than adopting unilateral tax measures.
At the same time, China’s electric vehicle industry should also strengthen its own competitiveness to cope with external challenges.
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