Friday, July 12, 2024

EU Inspectors Visit Tesla Giga Shanghai Amid Tariff Probe on China-Made EVs

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European Union inspectors conducted a visit to Tesla Inc’s (TSLA.O) Giga Shanghai facility to assess individual duty rates as part of the EU’s investigation into provisional tariffs on electric vehicle (EV) imports from China, which took effect on July 5, 2024.

According to Politico, the European Commission (EC) scheduled the visit to Tesla China’s gigafactory from June 26 to 28. The inspection duration for Tesla was notably shorter compared to other automakers exporting from China during the Commission’s broader investigation.

Tesla’s involvement in the investigation is pivotal. Despite its request to be included in the sample examined by the Commission being rejected, Tesla actively engaged in the trade proceedings and discussions with the Commission and Hearing Officer.

In early June, the European Commission announced provisional countervailing duties set to be implemented in July, with individual duties assigned to sampled companies BYD, Geely, and SAIC. Tesla, though not included in the initial sample, received a lower duty rate of 20.8% after participating in the investigation process.

The Commission indicated that Tesla may still receive an individually calculated duty rate following its announcement of provisional tariff rates in June, aligning with the approach taken for BYD, Geely, and SAIC.

The outcome of the EU’s tariff investigation will have significant implications for Tesla’s operations and competitiveness in the European market amidst broader trade tensions between the EU and China over EV imports.

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