The EU's tax on Chinese electric cars finally settle, with Tesla getting a 9% separate tax rate

On August 20, the European Commission disclosed to relevant parties the draft decision to impose the final countervailing duty on pure electric vehicles imported from China. A slight adjustment was made to the proposed tax rate - BYD: 17.0%; GEELY: 19.3%; SAIC: 36.3%; other cooperating companies: 21.3%; all other non-cooperating companies: 36.3%.

It's worth noting that the EU has decided to apply a separate tariff rate for Tesla as a Chinese exporter, which is currently set at 9%. The European Commission has also decided not to retroactively impose countervailing duties, and relevant parties can request a hearing from the Commission's service department as soon as possible, and provide opinions within 10 days.

On October 4, 2023, the European Commission initiated an anti-subsidy investigation against Chinese electric vehicles. On July 4, 2024, the Commission published a preliminary ruling, imposing a temporary anti-subsidy tax of 17.4% to 37.6% on Chinese electric vehicles. The final ruling disclosure was made on August 20, 2024, and the final ruling will be made before November 4.