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June 13, 2024
Now the EU are claiming that Chinese manufacturers have the advantage of huge government subsidies and slapped large tariffs on Chinese EV imports.
USA have already placed up to 100% extra tariff on Chinese EV imports. Claiming unfair competition conditions mean USA manufacturers can not compete on price. EU tariffs vary by company up to 50%.
In 2020 China exported around 200,000 EVs, by 2023 it was 1.5 million EVs. A third of which was to EU countries.
This poses a problem for the likes of BMW, Mercedes and VW with their very large number of sales in China. They don't want China selling highly subsidised EVs in Europe but then they also don't want the Chinese government putting the same tariffs on their cars in retaliation for EU tariffs.
The Rosebank field map location : Atlantic Ocean, north west of Shetland Islands, UK.
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More on this story at > >Reuters
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