On October 29, 2024, the European Commission released the final ruling document for the anti-subsidy investigation against electric vehicles imported from China. The plan announced that, in addition to the existing 10% tariff, an additional anti-subsidy tax ranging from 7.8% to 35.3% will be levied on pure electric vehicles imported from China for a period of five years.
That evening, the final ruling was published in the Official Journal of the EU, which means that the additional anti-subsidy tax of 7.8% to 35.3% on imported pure electric cars from China will come into effect at midnight on October 30, a day earlier than originally planned.
Screenshot of the EU Official Journal
According to the final ruling document, the specific additional anti-subsidy tax rates, in addition to the existing 10% tariff, are as follows: BYD 17%, Geely 18.8%, SAIC Group 35.3%, Tesla 7.8%, other cooperating companies 20.7%, and other non-cooperating companies 35.3%.
Screenshot of specific tax rates from the final ruling
Previously, according to a message released by the European Commission on its social media platform X on the afternoon of October 29, the final ruling was originally scheduled to be uploaded to the Official Journal of the EU on October 30, with the anti-subsidy tax set to take effect on October 31.
However, just a few hours later, the European Commission deleted the related post and uploaded the final ruling ahead of schedule.
Screenshot of the original post
The plan also indicated that representatives from the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, representing 12 companies including SAIC Motor Corporation, Geely Automobile Holdings, BYD Auto, BMW Brilliance Automotive, Great Wall Motor, NIO Inc., Chery Automobile, FAW Group, Dongfeng Motor Group, XPeng Motors, Seres, and Anhui Jianghuai Automobile Group (excluding Volkswagen (Anhui) Co., Ltd.), submitted "price commitment" proposals to the European Commission, but no consensus has been reached as of now.