Tesla's proposed tariff rate will drop to 7.8 percent, from 9 percent, the source said. For BYD, there was no change to its 17-percent tariff. For Geely, the new rate would be 18.8 percent from a previous 19.3 percent. A peak rate of 35.3 percent would apply to SAIC and other companies not cooperating with EU investigation, the source said.
BRUSSELS ― 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. Tesla 's proposed tariff rate will drop to 7.8 percent, from 9 percent, the source said. For BYD, there was no change to its 17-percent tariff. For Geely, the new rate would be 18.8 percent from a previous 19.3 percent. A peak rate of 35.
Last month, the EU set out its initial proposal for final duties, establishing a separate rate of 9 percent for Tesla EVs, a sharp reduction from the higher duty that will apply to all cooperating companies ― now set at 20.7 percent.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.
To Trim Proposed Tariffs On Tesla Other Evs From China
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