In early October last year, the European Commission officially launched an anti-subsidy investigation on Chinese electric vehicles. On June 12, the European Commission released the preliminary results of the anti-subsidy investigation on Chinese electric vehicles, and plans to impose a temporary anti-subsidy tax ranging from 17.4% to 38.1% on electric vehicles imported from China from July 4. The trade ministers of the 27 EU member states will vote on this before November 2, and may decide to impose a final tariff for a period of 5 years.

Specifically, the European Commission plans to impose individual duties on three sampled Chinese automakers on top of the original 10% general import tariff, including 17.4% for BYD, 20% for Geely, and 38.1% for SAIC. Other Chinese electric vehicles that were not sampled but cooperated with the EU investigation will be subject to a weighted average duty of 21%, and electric vehicles that did not cooperate with the investigation will be subject to a residual duty of 38.1%. Tesla cars imported from China may be subject to individual tax rates.

Taking into account the current tariff level of 10%, the tariff rate should reach 48.1% after the remaining 38.1% tariff is imposed on the third category.

The good news is that China and the EU have agreed to start consultations on the EU’s anti-subsidy investigation into Chinese electric vehicles.

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