SAIC Motor Faces 38.1% Tariff from EU on Imported EVs

TapTechNews June 13 - The European Commission announced last night that it plans to levy a provisional anti-subsidy duty on electric vehicles imported from China starting from July 4. Among them, SAIC Motor is subject to the highest rate of 38.1% tariff imposed by the European Union.

At noon today, SAIC Motor released a 'Public Statement on the European Commission's Anti-Subsidy Duty Decision', stating that 'we express deep concern and regret about this decision'.

SAIC Motor said: 'In the future, SAIC Motor will continue to maintain open communication and cooperation with global partners. We will closely monitor the development of the situation and take all necessary legal and commercial measures to effectively protect our legitimate rights and interests and the interests of global customers.'

TapTechNews attached the full text as follows:

SAIC Motor's Public Statement on the European Commission's Anti-Subsidy Duty Decision

Dear global customers, partners and media friends:

We have noticed the recent announcement of the European Commission, which plans to levy a provisional anti-subsidy duty on some Chinese electric vehicle manufacturers including SAIC Motor. Here, SAIC Motor expresses deep concern and regret about this decision.

As one of the world's leading automotive manufacturers, SAIC Motor has always been committed to serving global consumers through innovation and high-quality products. We firmly believe that free trade and fair competition are the keys to promoting global economic prosperity and sustainable development. We are deeply disappointed with the European Commission's decision. The relevant measures not only violate the principles of the market economy and international trade rules, but may also have a significant adverse impact on the stability of the global automotive industry chain and Sino-European economic and trade cooperation.

We believe that the development of new energy vehicles is an important driving force for building a global green and low-carbon economy. In the past decade, SAIC Motor has invested nearly 150 billion yuan in research and development in core technology fields such as new energy and intelligent connected, and has cumulatively obtained more than 26,000 valid patents. We rely on technological innovation rather than government subsidies to wholeheartedly provide consumers in China and more than 100 countries and regions overseas with green and environmentally friendly high-quality products. As SAIC MG's sales in the European market continue to increase, we are planning to introduce Chinese new energy technologies and green factories to Europe. We hope to promote cooperation in the field of new energy vehicles between China and Europe through proactive measures and jointly promote the global transition to a low-carbon economy.

We earnestly hope that the European Union can seriously listen to the voices of the automotive enterprises in China and Germany, firmly avoid artificially setting up new energy vehicle trade barriers, and earnestly safeguard the fair competition market environment. We believe that only through open dialogue and cooperation can we overcome challenges and achieve win-win results.

In the future, SAIC Motor will continue to maintain open communication and cooperation with global partners. We will closely monitor the development of the situation and take all necessary legal and commercial measures to effectively protect our legitimate rights and interests and the interests of global customers.

We call on the European Commission to carefully consider its decision and conduct constructive dialogue with global automotive industry partners including China to jointly find solutions to promote fair competition and sustainable development.

Finally, SAIC Motor expresses sincere thanks to all customers, partners and media friends who support and trust us. We will continue to work hard to make greater c ontributions to the green transformation of China's and the global automotive industry.

SAIC Motor Company Limited

June 13, 2024