The European Union will lower proposed final tariffs on Tesla and slightly trim rates for other electric vehicles from China after taking into account submissions by the companies, a source familiar with the matter said on Tuesday.<\/p>\n
Tesla’s proposed tariff rate will drop to 7.8%, from 9%, the source said. For BYD, there was no change to its 17% tariff. For Geely, the new rate would be 18.8% from a previous 19.3%. A peak rate of 35.3% would apply to SAIC and other companies not cooperating with EU investigation, the source said.<\/p>\n
These tariffs are on top of the EU’s standard 10% import duty for cars.<\/p>\n
The European Commission, which is conducting the anti-subsidy investigation into EVs made in China, declined to comment. Tesla did not also immediately for comment.<\/p>\n
Last month, the EU set out its initial proposal for final duties, establishing a separate rate of 9% for Tesla EVs, a sharp reduction from the higher duty that will apply to all cooperating companies – now set at 20.7%.<\/p>\n
This tariff is due to apply to certain Chinese producers such as Chery, Great Wall Motor Co and NIO and a number of joint ventures between Chinese companies and EU automakers.<\/p>\n
China and affected companies were given 10 days to submit their comments and the Commission has taken these into account to establish revised tariff rates.<\/p>\n
The proposed final duties will be subject to a vote by the EU’s 27 states. They will be implemented unless a qualified majority of 15 EU members representing 65% of the EU population vote against\u00a0it.<\/p>\n
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