EU tariffs on Chinese EVs to reach up to 48%

The European Union will impose additional tariffs on electric cars shipped from China starting next month, taking levies to as much as 48% in a move that further escalates trade tensions and adds to the cost of buying an EV, reports Bloomberg.

The bloc formally notified carmakers including BYD, Geely and MG owner SAIC of the charges on battery-electric cars due to be implemented around July 4, the European Commission said, following an investigation of subsidies that started last year. China’s EV manufacturers have been pushing more aggressively into Europe amid a domestic price war and years of building a lead in the technology.

The individual duties vary depending on the level of cooperation with the probe, the EU said, and will hit SAIC Motor Corp. hardest. The state-owned company owns the British brand MG, whose mass-market models like the MG4 are among those leading the charge into Europe. SAIC’s tariffs are set to increase by 38.1% on top of the existing duty of 10%.