European Commission investigators will examine Chinese automakers in the coming weeks to determine whether to impose punitive tariffs to protect European electric car makers, three people familiar with the matter said.Two of the sources said investigators would visit BYD, Geely and SAIC, but would not visit foreign brands made in China, such as Tesla, Renault and BMW. Investigators have now arrived in China and will visit the companies this month and in February to verify that their answers to previous questionnaires are correct.The European Commission, China's Ministry of Commerce, BYD and SAIC did not immediately respond to requests for comment. Geely also declined to comment, but cited its statement in October that it complied with all laws and supported fair competition in global markets.The European Commission's investigation documents show that the investigation is now in the "start-up phase" and that a verification visit will take place before April 11. European Union “Countervailing" The investigation, announced in October and scheduled to last 13 months, aims to determine whether affordable electric vehicles made in China have benefited unfairly from state subsidies. This "protectionist" policy has heightened tensions between China and the EU.
At present, the share of Chinese-made cars in the EU electric vehicle market has risen to 8%.MG MotorGeely's Volvo is selling well in Europe, and by 2025 it could be 15%. At the same time, Chinese electric cars in the European Union typically cost 20 percent less than EU-made models.Moreover, as competition in the Chinese car market intensifies and growth slows at home, Chinese electric carmakers, from market leader BYD to upstart rivals Xiaopeng and NIO, are ramping up overseas expansion, with many prioritising sales in Europe.In 2023, China surpassed Japan as the world's largest auto exporter, exporting 5.26 million vehicles worth about 102 billion US dollars.
Post time: Jan-29-2024