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Tesla reaps benefits as EU cuts planned tariffs on Chinese-made electric vehicles
- Elon Musk’s firm will face the lowest rate of 9 per cent, but Chinese companies will have to pay rates of up to 36.3 per cent
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Finbarr Berminghamin Brussels
Tesla is the big winner from a European Commission’s move to lower proposed tariff rates on Chinese-made electric vehicles.
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On Tuesday, the European Union’s secretariat announced a revision to its provisional duties, with a top-end rate of 36.3 per cent for companies that include state-owned SAIC.
This was lowered from the initial proposal of 37.4 per cent following consultations with car makers.
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Tesla will pay the lowest rate of 9 per cent after Elon Musk’s company asked for a separate investigation into the level of subsidies it had received from the Chinese government.
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