After long research European Union took the expected step and increased the tax rate on Chinese electric vehicles. had increased.
Electric vehicles brought to Europe from China will face an extra customs duty of up to 38.1 percent in addition to the existing 10 percent customs duty. Interestingly, a taxation that varies from brand to brand will be applied here. owner of MG SAICwill be taxed at the highest rate of 38.1 percent. Geely additional 20 percent for vehicles, BYD An additional tariff of 17.4 will be applied to vehicles. The European Union took this decision, stating that Chinese manufacturers were distorting competition with state support. So how much government support are we talking about here? According to new analysis, the Chinese administration is investing in the electric vehicle industry. has provided investment support of more than 230 billion dollars so far.. It is reported that a support of 45 billion dollars was given in 2023 alone, and the administration supports automobile manufacturers in various ways, including financing special R&D programs. It is stated. It is reported that investments have increased especially in recent years.
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Meanwhile, not every European country welcomes this decision. For example, Germany wants to remove extra customs duties or soften the conditions. Germany, Europe’s largest in automobile production, states that the imposed customs duties may harm the success of German automobile manufacturers selling vehicles in China. Actually, this is not the first time this issue has come up. Last week, BMW, Volkswagen and Mercedes stated that they were worried that China would retaliate against this step of the European Union and that this would damage their sales in China.