Reported 10 months ago
Turkey has announced a 40% high tariff on all cars imported from Mainland China, and the EU is expected to impose tariffs on imported electric cars from China, starting at 10%. This move has prompted companies like Geely-owned Volvo to shift production bases to Belgium and the UK to avoid tariff pressures. As competition in the market intensifies with rising players like BYD and Huawei, leading Mainland car manufacturer SAIC has seen a decline in sales by over 2 million units in the past 5 years, causing a market value evaporation of about 1.2 trillion NT dollars.
Source: YAHOO