Posted on 08/20/2024 11:04:02 AM PDT by Red Badger
The European Union may have just given Tesla’s future sales in the region a boost by setting tariffs on its China-made vehicles considerably below those imposed on rival electric carmakers.
The high-profile decision comes two months after the EU hiked tariffs on all electric cars imported from China, citing “unfair” state subsidies that unduly benefited the country’s electric vehicle makers at the expense of European manufacturers.
Tesla, which has a factory near Berlin but exports many of the cars it makes in China to Europe, had requested that the EU recalculate its rate, initially set at 20.8%.
On Tuesday, the European Commission, the EU’s executive arm, set that rate at 9%.
That applies on top of the existing EU duty of 10% on all EV imports, but it is still well below the additional tariffs of between 17% and 36.3% levied on other Chinese automakers.
The European Commission said the tariff reflected the “level of subsidies” Tesla received in China. “The Commission verified the information during (a) visit in China and conducted the same checks as of the other sampled Chinese exporting producers,” it added in a statement. CNN has contacted Tesla for comment.
Gregor Sebastian, a senior analyst at think tank Rhodium Group, said he was “surprised” that Tesla’s additional tariff had been set at “only 9%.” He pointed to local government loans that the company has received in Shanghai, as well as subsidized batteries from Chinese battery maker CATL.
“But it’s tricky to make a strong argument here without seeing all the inputs and methodology the Commission used,” he added.
(Excerpt) Read more at cnn.com ...
They’ve got to sell them somewhere as they aren’t selling here.
wy69
Apparently they ain’t selling in China either.................
Musk likes the ChiComs?
Tesla doesn’t get the Chicom subsidy like the crap cars they churn out not to make a profit but for economic warefare.
I thought I saw where Q3 of 2024 is headed to be Tesla’s best quarter ever in China after the first half was slow.
musk loves china, ev, and crypto.
but on the plus side, Trump is on X now instead of TS
Parking lots in the US are filling up with unsold Teslas why don’t the buy them ,LOL, Oh wait the EU Dictatorship is about to ORDER the Peasants to buy EVs and only EVs ,LOL
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