Reported 10 months ago
German automotive economic expert Ferdinand Dudenhöffer warns that imposing tariffs would significantly increase the prices of German electric cars, making them unaffordable for consumers and negatively impacting the clean energy transition for European manufacturers like BMW, Mercedes-Benz, and Renault. Demand for electric cars in Germany may further decline. Chinese electric car brands like BYD and MG currently hold a low market share in Germany but with Chinese imports contributing to about 13.7%. Dudenhöffer also mentions the possible increase in market share for Chinese brands this year. If punitive tariffs are imposed by the EU following an investigation into China's alleged illegal subsidies for electric cars, it could have repercussions for German sales. The success of the Chinese automobile industry, according to Dudenhöffer, is attributed to economies of scale rather than unfair subsidies, with a decision on tariffs expected from the European Commission this week.
Source: YAHOO