XPeng Motors' Response to EU Electric Vehicle Tariff Measures

TapTechNews July 4th news, XPeng Motors responded to the EU's electric vehicle tariff measures, stating that the company is actively assessing the feasibility of establishing local manufacturing capacity in Europe and taking appropriate measures to meet market demands. All current consumers waiting for delivery and future customers who place orders before the new tariff takes effect will not be affected by any price increase.

Today, the European Commission decided to impose a temporary anti-subsidy duty on electric vehicle imports from China. Chinese producers who cooperate but are not sampled will be subject to a weighted average tariff of 20.8%, and non-cooperating companies will have a tariff rate of 37.6%. This temporary tariff will take effect on July 5, 2024 and will last for a maximum of four months.

TapTechNews noted that in March this year, XPeng Motors officially entered the German market, and in May it entered the French market. In the future, XPeng will also enter other European markets including Italy and the United Kingdom. XPeng Motors said that the company aims to achieve a 3% market share in the relevant model range in the German new energy vehicle market by the end of this year.