New tariffs will vary by manufacturer, but European car makers deem the measures pointless, even counterproductive
Electric cars waiting to be loaded onto a ship are seen stacked at the international container terminal of Taicang Port in China . Photograph: by AFP
The worst-affected, for now, is Shanghai Automotive Industrial Corporation, or SAIC, which is best-known as the company behind the revived MG brand. It’s products will now carry a huge 38.1 per cent tariff.Catherine Martin rules out bid for Green Party leadership as Eamon Ryan steps downThere are two other categories: a 21 per cent extra tariff for electric cars from manufacturers that co-operated with the EU’s investigation into state subsidies, and a 38.
A report in Automotive News suggested that even the higher tariff wouldn’t be enough to seriously dent Chinese car makers’ ambitions – they’re simply too profitable to care, and could easily absorb an extra EU tariff without passing anything on to the consumer, or passing on only a small fraction of the extra costs.
Many brands are now scrambling to diversify production as the new tariffs loom. For instance, Polestar is already producing its new 3 large SUV model in the US as well as China, while the new Polestar 4, which will be launched later this year, will be made in both China and South Korea. BMW is changing tack, too, moving production of the Neue Klasse replacement for the Chinese-built iX3 to Hungary for 2025.
European-Union World-Trade-Organisation Byd Volvo-Group Polestar
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