China's Automobile Association Voices Opposition to EU's Anti-Subsidy Move on Chinese EVs
TapTechNews July 7th news, on July 6th, the China Association of Automobile Manufacturers released a statement saying: On June 12, 2024, the European Commission, in the information disclosure of the anti-subsidy investigation on Chinese electric vehicles, disregarding the facts, insisted that there is a high subsidy in the Chinese electric vehicle industry, which brings damage to the electric vehicle industry in the European Union, and intends to levy a temporary anti-subsidy tax on Chinese exported electric vehicles. Regarding this, the China Association of Automobile Manufacturers deeply regrets and firmly indicates that it cannot accept this.
The China Association of Automobile Manufacturers stated that since the European Commission launched the anti-subsidy investigation on Chinese electric vehicles last October, the Chinese automobile industry has actively cooperated with the investigation starting from safeguarding the overall stability of the China-Europe automobile industry chain. Relevant enterprises have carefully provided materials according to the requirements of the investigation department. However, in the investigation, the European side preset the investigation result, selectively chose the sampled enterprises, abused the right of investigation, and randomly expanded the investigation scope, seriously distorting the investigation result.
The China Association of Automobile Manufacturers hopes that the European Commission will not regard the current phased vehicle trade phenomenon, which is an inevitable stage of industrial development, as a long-term threat, and even less politicize economic and trade issues and abuse trade remedy measures. It is necessary to avoid damaging and distorting the global automotive industry chain and supply chain including the European Union and maintain a fair, non-discriminatory, and predictable market environment.
According to TapTechNews' previous report, the European Union has imposed a tariff of up to 37.6% on electric vehicles made in China and exported to this region starting from July 5 local time. (TapTechNews note: The final tariff will be levied starting in November, and what is levied today is the temporary tariff).
According to the EU's anti-subsidy investigation, SAIC Motor will be additionally taxed 37.6% on top of the existing 10% tariff, and Geely and BYD will be additionally taxed 19.9% and 17.4% respectively.
Other Chinese electric vehicle manufacturers that cooperate with the investigation but are not sampled will be additionally taxed 20.8% of the weighted average tariff, while enterprises that do not cooperate with the investigation will face an additional levy of 37.6%.