EU tariffs will not stop Chinese EVs from entering bloc, industry officials say at CIIE
China EV makers believe their advantages in production and price will make their products competitive abroad
These officials, speaking at the China International Import Expo (CIIE) in Shanghai, said mainland companies are able to offer the best pure electric cars at the best prices and their development and manufacturing capabilities are unmatched by international competitors.
“The Chinese carmakers’ superiority in EV making can be copied to other markets since they can cater to global consumers’ demand,” Sam Wu, CEO of Ford Motor China, said at the Hongqiao Forum, which is part of the CIIE, on Wednesday. “The Chinese EV industry is in the pole position thanks to an early start and government support.”
Two officials with major international carmakers said some of their Chinese-made EVs are easy to sell in EU countries even after absorbing additional tariffs of 17 per cent to 35.3 per cent.
Last month, the EU voted to impose tariffs on pure-electric cars made on the mainland following an anti-subsidy investigation. The new duties are on top of the standard 10 per cent tariff applied to pure-electric cars made in China. The new tariffs will be in effect for five years.
Global brands, including Volkswagen and BMW, are also subject to the punitive measures because their mainland-built cars are assembled with partners like state-owned SAIC Motor and Brilliance Auto.
