The European Commission announced on Thursday that it will move forward with imposing provisional countervailing tariffs on battery electric vehicle (BEV) imports from China, citing "unfair subsidization" that threatens Europe's domestic market.
Shenzhen-based BYD will be slapped with a 17.4% tariff, while the imports of Geely and SAIC electric vehicles will face tariffs of 19.9% and 37.6% respectively. Other Chinese manufacturers of battery electric vehicles that cooperated in the investigation will be subjected to a 20.8% levy, while the duty for non-cooperating companies will amount to 37.6%.
The measure will go into effect on July 5 and is expected to stay in place over the next four months. The authorities are anticipated to make a final decision on definitive duties through a vote by the European Union's member states. If adopted, the decision would establish these duties for a period of five years.
