SAIC Motor to Balance EU Market Fluctuations, Won't Give Up Market Despite Tariff

TapTechNews June 29th news. According to the Shanghai Securities Journal, at the 2023 annual general meeting held on the 28th, Wang Xiaoqiu, the president of SAIC Motor, said that SAIC Motor would balance the possible fluctuations in the EU market through the global production and sales layout including the Middle East and Southeast Asia. In addition, MG's sales situation in developed countries such as Australia is also quite good and worthy of continued cultivation.

Wang Xiaoqiu emphasized that SAIC Motor will definitely not give up on the EU market. "Occupying a certain share of the EU automotive market is extremely important to SAIC. Europe is the birthplace of the world's automotive industry. If we can have a foothold and account for more than 5% of the market share, it can truly reflect the international competitiveness of the enterprise."

According to TapTechNews' previous report, the European Commission issued a statement on the 12th of this month announcing that it plans to levy a provisional anti-subsidy tax on electric vehicles imported from China starting from July 4th. Among them, SAIC Motor was subject to the highest-imposed 38.1% tariff by the European Union.

SAIC Motor then released the "Public Statement on the Decision of the European Commission on Anti-Subsidy Tax", stating that it "expresses deep concern and regret" about this decision.

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"Subject to the highest-imposed 38.1% tariff by the European Union, SAIC Motor's statement expresses 'deep concern and regret'"