Tesla biggest winner after electric car tariffs slashed in Europe

22 August 2024, 10:00 am

Fleet Auto News
Tesla biggest winner after electric car tariffs slashed in Europe
Image: Drive
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Tesla biggest winner after electric car tariffs slashed in Europe
Image: Drive

AutoExec Summary
The European Union has reduced tariffs for Tesla, making it the lowest of any Chinese-made car in Europe. Other brands like BYD and Geely also benefit from lower rates. The change was made by the European Commission to counter unfair subsidies from the Chinese government to car makers. Tesla now faces a 9% import tariff, down from the original 20.8%. The revised rates will be finalized by October 2024 and will remain in place for five years. This move is expected to impact Chinese vehicle imports into Europe, with experts predicting a $US4 billion reduction in value.

Brands mentioned: Tesla, BYD, Geely, BMW, Volkswagen, SAIC Motor Corp, Volvo, Mini, Great Wall Motors (GWM), Dacia, Citroen

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