BYD, Geely, and SAIC all face slightly lower tariff rates than previously, while Tesla's 9 percent is well below the 20.8 percent indicated last month.
The European Commission today published new proposed tariffs on electric vehicles (EVs) from China, revealing for the first time specifically the rates faced by Tesla's (NASDAQ: TSLA) China-made vehicles.
As part of its ongoing countervailing investigation, the European Commission has disclosed to interested parties a draft decision on final countervailing duties on imports of battery electric vehicles (BEVs) from China, according to a statement today.
The European Commission said it had made minor adjustments to the proposed duty rates in the light of stakeholders' comments on the provisional measures:
BYD: 17.0 percent;
Geely: 19.3 percent;
SAIC: 36.3 percent;
Other cooperating companies: 21.3 percent;
All other non-cooperating companies: 36.3 percent.
The decision to grant an individual duty rate to Tesla as an exporter from China, established at 9 percent, at this stage.
This is a change from the provisional tariffs announced on July 4, which were:
BYD: 17.4 percent;
Geely: 19.9 percent;
SAIC: 37.6 percent;
Other cooperating companies: 20.8 percent;
All other non-cooperating companies: 37.6 percent.
For BYD, Geely, and SAIC, they face slightly lower rates, but the adjustments are minimal.
Tesla, on the other hand, saw good news, with a 9 percent tax rate substantially lower than the 20.8 percent previously applied to it.
Tesla submitted a substantiated request for an “individual examination” to determine its duty level based on the specific subsidies it received, according to the statement from the European Commission today.
The European Commission verified the information during the verification visit in China and conducted the same checks as of the other sampled Chinese exporting producers, the statement said.
Any difference in the level of tariffs reflects the different levels of subsidies between the different schemes, the European Commission said.
The European Commission visited Tesla's Shanghai factory in late June, according to a July 3 report in Politico.
Tesla is China's largest exporter of EVs to the EU, but the European Commission did not initially select it for a visit in its investigation into state subsidies in China. As a result, the company applied for separate treatment, which was granted, according to Politico.
Become A CnEVPost Member
Become a member of CnEVPost for an ad-free reading experience and support us in producing more quality content.
Already a member? Sign in here.
More From CnEVPost
