PARIS (Reuters) – Chinese car manufacturers BYD and MG, a subsidiary of SAIC, are awaiting confirmation of new European customs duties on imports of electric vehicles manufactured in China before deciding on possible price increases in Europe to compensate for the impact of the surcharges, sources close to the two groups told Reuters.
The European Commission decided last week to impose additional customs duties of up to 38.1% on imported Chinese electric vehicles from the beginning of July, on the grounds that the Chinese industry benefits from subsidies that distort competition. .
Unless there is a compromise between Europe and China by then, the provisional customs duties will come into force on July 4, with the European executive’s objective being to make them definitive in November.
This decision, denounced by Beijing as protectionist, raises fears of reprisals from China.
To date, only Tesla has said it expects a price increase for its Model 3 to compensate for the increase in prices at European borders, but analysts expect that other manufacturers producing in China will also be forced to pass on this. part of the additional cost is passed on to the consumer.
Sources close to BYD and MG said there would be no decision on customer pricing before July 4.
MG faces surcharges of 38.1%, on top of the current 10% customs duty, while for BYD the new customs duty amounts to 17.4%.
The two Chinese manufacturers were not immediately available for comment.
A spokesperson for Dacia, Renault’s low-cost brand whose electric Spring imported from China will be overtaxed by 21%, said for her part this week that an announcement on the price of the car was not ” not on the agenda.”
(Report by Gilles Guillaume, with Zoey Zhang in Shanghai, edited by Blandine Hénault)
©2024 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.