Reported about 1 year ago
In response to Chinese government subsidies affecting the entire electric vehicle supply chain and potentially harming European manufacturers, the EU announced plans to impose 'temporary high tariffs' on Chinese electric vehicle imports starting from next month, with rates reaching as high as 48%. This move, along with potential retaliatory measures from Beijing, could escalate trade tensions. Chinese electric vehicle makers like BYD, selling 1.27 million vehicles in the mainland by May, have been utilizing government incentives to boost sales domestically and overseas, but face challenges in the European market due to the new tariffs.
Source: YAHOO