EU tariffs hit growth in China’s electric car exports, industry body official says

This post was originally published on The Economic Times

BEIJING: The prospect of European tariffs cut 20-30 percentage points off China’s growth in exports of electric and plug-in hybrid cars in recent months, an official at a leading Chinese auto industry body said on Monday.

Last week, the European Union introduced provisional tariffs of up to 37.6% on China-made electric vehicles (EVs) to safeguard against what it described as a potential flood of unfairly subsidised EVs – a move China strongly opposes.

The EU also took steps in March that meant tariffs could be imposed retroactively.
“New energy vehicle exports currently face temporary pressure,” Cui Dongshu, secretary general at the China Passenger Car Association (CPCA), said on Monday. New energy vehicles (NEVs) include electric cars and plug-in hybrids.

“Our (NEV export) growth used to be at least 30-40%, and it has slowed to only more than 10%, meaning (the tariffs) had a 20-30 percentage point impact on (NEV export growth), a conspicuous short-term impact,” Cui added.

He was speaking after the CPCA reported that China’s domestic car sales fell for the third month running in June.NEV exports rose 12.3% year-on-year in June, but were down 15.2% from May, the data showed, with NEV exports accounting for

Read the rest of this post, which was originally published on The Economic Times.

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