Europe will lower planned tariffs on Chinese electric vehicles, including Teslas

After considering the firms’ ideas, the European Union will lower its recommended final duties on Tesla and shave some levies on other Chinese electric vehicles, according to a source with knowledge of the situation on Tuesday.

According to the source, Tesla’s suggested tariff rate would decrease from 9% to 7.8%. There was no modification to BYD’s 17% tariff. Geely’s new rate would be 18.8%, as opposed to the previous 19.3%. According to the source, SAIC and other businesses who refuse to assist the EU inquiry would be subject to a maximum rate of 35.3%.

The 10% import duty that the EU normally imposes on automobiles is in addition to these levies.

The EU announced its initial proposal for final tariffs last month. It proposed a special cost of 9% for Tesla’s electric vehicles, which is a significant decrease from the higher price of 20.7% that would apply to all collaborating firms.