BYD doesn’t seem fazed by the European Union’s new tariffs on Chinese electric vehicle (EV) imports. Analysts have calculated that the Chinese automaker’s profits from EVs sold in Europe still far exceed those of local EU automakers.
The European Commission announced new tariffs on Chinese EV imports based on its ongoing anti-subsidy probe. The Commission placed tariffs as high as 38% on select EVs made in China and imported into Europe. The new Chinese EV import duties will be implemented on the current 10% tariffs.
Three Chinese automakers received individual duty rates because they cooperated with the European Commission’s investigation. BYD received the least additional tariffs at 17.4%. In total, BYD’s tariffs will be almost 30%.
According to Rhodium Group, the nearly 30% duty on BYD…
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