On October 4, the EU held a vote on whether to impose a five-year anti-subsidy tax on Chinese electric vehicles. According to a statement from the European Commission, the proposal to impose tariffs on imports of pure electric vehicles from China received the necessary support from EU member states. Geely Holdings expressed significant disappointment regarding this matter.
Geely Holdings stated: "The European Commission has voted to approve the bill imposing anti-subsidy taxes on electric vehicles produced in China. Geely Holdings is very disappointed with this decision, as it is unconstructive and will hinder EU-China trade relations, ultimately harming the interests of European businesses and consumers. Geely Holdings has always supported free trade and advocates for fair competition, strictly adhering to the laws and regulations of countries worldwide, while providing excellent products and services to global users."
It was reported that the European Commission's statement on October 4 indicated that the proposal to impose tariffs on Chinese imported pure electric vehicles received necessary support from EU member states. Ten countries supported the proposal: France, Italy, the Netherlands, Poland, Denmark, Ireland, Bulgaria, Estonia, Lithuania, and Latvia (accounting for 45.99% of the EU population). Twelve countries abstained: Belgium, the Czech Republic, Greece, Spain, Croatia, Cyprus, Luxembourg, Austria, Portugal, Romania, Sweden, and Finland. Five countries opposed it: Germany, Hungary, Malta, Slovenia, and Slovakia.
Regarding specific tax rates: Tesla: 7.8%; BYD: 17%; Geely: 18.8%; SAIC: 35.3%; other Chinese electric vehicle manufacturers cooperating in the investigation but not sampled separately: 20.7%; other non-cooperative Chinese electric vehicle manufacturers: 35.3%. Notably, this is a maximum tariff of 35.3% imposed on top of the existing 10% tariff.
