BYD, Geely, and SAIC all face slightly lower tariff rates than previously, while Tesla's 9 percent is well below the 20.8 percent indicated last month.
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Category: Policy
The USTR expects its final ruling to be issued in August, and the new tariffs, which had been planned to take effect on August 1, will go into effect about two weeks after the publication of the final determination.
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BYD and Leapmotor will benefit the most, followed by Xpeng, Geely Auto, Changan, Great Wall Motor and GAC due to their relatively large exposure to low-priced vehicles, said Deutsche Bank.
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Consumers can get a RMB 20,000 subsidy for scrapping an old car and buying an NEV, and a RMB 15,000 subsidy for buying a fuel car of 2.0 L or less, both doubled from previous levels.
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SAIC said in the hearing that the European Commission's anti-subsidy investigation involves commercially sensitive information and that there were errors in the determination of subsidies.
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The 20,000 quotas are additional to the original 80,000 quotas and can only be used to purchase purely electric vehicles.
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Chengdu, one of China's cities with the highest number of car ownership, will look into including hybrid vehicles in the restriction on fuel vehicles.
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SAIC says it will raise further defenses due to unreasonable and erroneous aspects of the European Commission's anti-subsidy investigation.
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Such an inspection could lead to Tesla receiving a lower duty than the average of 21 percent, as only individually verified producers receive their own duty, Politico said.
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Nio said it maintains the pricing of its current models in European markets at this stage. Xpeng said it is actively assessing the feasibility of establishing local manufacturing capabilities in Europe.
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