Close Menu
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Authorities issue red alert as heavy monsoon rains cause floods, landslides

July 21, 2025

Astronomer interim CEO says ‘spotlight has been unusual and surreal’

July 21, 2025

FDA taps biotech exec George Tidmarsh as RFK Jr.’s top drug regulator 

July 21, 2025
Facebook X (Twitter) Instagram
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us
Facebook X (Twitter) Instagram Pinterest Vimeo
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports
Nabka News
Home » New EU EV tariffs cause Chinese automakers to lose interest in Europe
China

New EU EV tariffs cause Chinese automakers to lose interest in Europe

i2wtcBy i2wtcJune 20, 2024No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
Follow Us
Google News Flipboard Threads
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link


European tariffs on Chinese-made EVs are already hurting business confidence among Chinese companies, even though the new taxes have yet to come into effect.

A recent survey by China Economic Services and the China Chamber of Commerce in the EU found that tariffs have made 82% of Chinese auto and industrial chain companies less confident about investing in Europe in the near future, 83% said their European partners are unsure about working with Chinese companies, and 73% reported a drop in sales in Europe.

The survey targeted more than 30 companies and institutions involved in new energy vehicles, including battery electric vehicles and plug-in hybrid vehicles.

The report said Chinese auto companies are facing a “challenging business environment,” with the majority of companies surveyed agreeing that “escalating trade tensions” are politicizing economic activity.

Construction Trade War

The European Commission said last week it would impose tariffs of up to 38% on Chinese-made electric vehicles starting next month, a decision that follows an anti-subsidy investigation launched in October last year.

The decision could set off a broader trade dispute between China and Europe, with the EU also investigating several other industries, including steel, wind turbines and medical equipment.

Chinese automakers are calling on Beijing to raise tariffs on imports of internal combustion engine vehicles from Europe.

The Chinese government recently launched an anti-dumping investigation into European pork, adding to a similar investigation launched into European brandy earlier this year.

How will Chinese EV makers respond?

China’s electric vehicle sector has emerged as a major driver of the country’s economy as companies such as BYD and battery maker CATL become major players in their respective sectors. Chinese manufacturers deny accusations that their success is due to government support.

Chinese electric vehicle makers could avoid the tariffs by setting up manufacturing bases in Europe: BYD and fellow Chinese automaker Chery have committed to building new factories in Hungary and Spain.

The chamber’s survey suggests more Chinese automakers may be considering expanding production in Europe: 64% said they plan to set up manufacturing bases in Europe within the next five years, even though many companies reported a decline in confidence about investing in the region.

Subscribe to the Fortune Next to Lead newsletter and get weekly strategies for advancing to executive office. Sign up for free before the start of June 24, 2024.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
i2wtc
  • Website

Related Posts

China

The century-spanning echo of Edgar Snow-Xinhua

July 21, 2025
China

Farmers across China busy with agricultural production in farming season around Dashu-Xinhua

July 21, 2025
China

Rich salt resources boost villagers’ income in Gegye County, China’s Xizang-Xinhua

July 21, 2025
China

Int’l dance festival opens in China’s Xinjiang with 52 performances-Xinhua

July 21, 2025
China

China clinches team free routine title at World Aquatics Championships-Xinhua

July 21, 2025
China

Global pharma giants underscore local partnerships, R&D at China supply chain expo-Xinhua

July 20, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Authorities issue red alert as heavy monsoon rains cause floods, landslides

July 21, 2025

House Republicans unveil aid bill for Israel, Ukraine ahead of weekend House vote

April 17, 2024

Prime Minister Johnson presses forward with Ukraine aid bill despite pressure from hardliners

April 17, 2024

Justin Verlander makes season debut against Nationals

April 17, 2024
Don't Miss

Trump says China’s Xi ‘hard to make a deal with’ amid trade dispute | Donald Trump News

By i2wtcJune 4, 20250

Growing strains in US-China relations over implementation of agreement to roll back tariffs and trade…

Donald Trump’s 50% steel and aluminium tariffs take effect | Business and Economy News

June 4, 2025

The Take: Why is Trump cracking down on Chinese students? | Education News

June 4, 2025

Chinese couple charged with smuggling toxic fungus into US | Science and Technology News

June 4, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

About Us
About Us

Welcome to NabkaNews, your go-to source for the latest updates and insights on technology, business, and news from around the world, with a focus on the USA, Pakistan, and India.

At NabkaNews, we understand the importance of staying informed in today’s fast-paced world. Our mission is to provide you with accurate, relevant, and engaging content that keeps you up-to-date with the latest developments in technology, business trends, and news events.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Authorities issue red alert as heavy monsoon rains cause floods, landslides

July 21, 2025

Astronomer interim CEO says ‘spotlight has been unusual and surreal’

July 21, 2025

FDA taps biotech exec George Tidmarsh as RFK Jr.’s top drug regulator 

July 21, 2025
Most Popular

Chinese armed ships patrol waters around disputed islands, infuriating Japan

June 7, 2024

China Coast Guard releases South China Sea video to counter Philippines’ claims of ‘barbaric’ behaviour

June 8, 2024

What China pessimists get wrong

June 9, 2024
© 2025 nabkanews. Designed by nabkanews.
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us

Type above and press Enter to search. Press Esc to cancel.