On October 29, 2024, the European Union published the definitive results of its anti-subsidy investigation on the import of fully electric vehicles from China. As a result of this investigation, duty rates were set for the following five years for companies looking to export from the Asian country to the EU.
Impact on major players
The finalized duty rates are generally lower than those proposed in August 2024, except for BYD, which maintains a 17 percent rate. Tesla received the most favorable treatment with a 7.8 percent duty rate. This preferential rate could help Tesla maintain its strong position in the European market, especially as its made-in-China BEVs held some 5.5 percent of the European BEV market.
Price competitiveness of Chinese BEVs
The new tariffs aim to level the playing field, as Chinese-made BEVs can significantly undercut their European counterparts in price. In 2023, the price gap was most pronounced in the large SUV segment, where Chinese BEVs were over 21,800 euros cheaper than non-Chinese alternatives, based on an average reference price. This pricing advantage has been a key factor in the growing market share of Chinese brands.
Definitive duty rates for the import of battery-electric vehicles from China to the European Union by brand, as of October 29, 2024
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European Commission. (October 28, 2024). Definitive duty rates for the import of battery-electric vehicles from China to the European Union by brand, as of October 29, 2024 [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1535446/eu-definitive-duty-rates-for-the-import-of-bevs-from-china/
European Commission. "Definitive duty rates for the import of battery-electric vehicles from China to the European Union by brand, as of October 29, 2024." Chart. October 28, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1535446/eu-definitive-duty-rates-for-the-import-of-bevs-from-china/
European Commission. (2024). Definitive duty rates for the import of battery-electric vehicles from China to the European Union by brand, as of October 29, 2024. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1535446/eu-definitive-duty-rates-for-the-import-of-bevs-from-china/
European Commission. "Definitive Duty Rates for The Import of Battery-electric Vehicles from China to The European Union by Brand, as of October 29, 2024." Statista, Statista Inc., 28 Oct 2024, https://www.statista.com/statistics/1535446/eu-definitive-duty-rates-for-the-import-of-bevs-from-china/
European Commission, Definitive duty rates for the import of battery-electric vehicles from China to the European Union by brand, as of October 29, 2024 Statista, https://www.statista.com/statistics/1535446/eu-definitive-duty-rates-for-the-import-of-bevs-from-china/ (last visited December 22, 2024)
Definitive duty rates for the import of battery-electric vehicles from China to the European Union by brand, as of October 29, 2024 [Graph], European Commission, October 28, 2024. [Online]. Available: https://www.statista.com/statistics/1535446/eu-definitive-duty-rates-for-the-import-of-bevs-from-china/
