Ola Kaellenius, CEO of Mercedes-Benz, has indicated that a decision from the European Union regarding import tariffs on Chinese electric vehicles is imminent. Speaking at the CAR Symposium 2024, Kaellenius expressed his expectation for a resolution on the matter.
“The decision is imminent,” Kaellenius stated at the industry conference.
Originally expected this week, the decision was postponed until after the upcoming election in the bloc. The European Commission initiated an investigation in October to determine if fully-electric cars manufactured in China were benefitting from distortive subsidies, potentially warranting additional tariffs.
Kaellenius reiterated his opposition to restrictions but acknowledged that some countries are providing support to their national producers, despite World Trade Organization (WTO) rules. He emphasized the importance of countering this with trade stimulus rather than protectionism, particularly for Germany, which has a heavily export-oriented economy.
Mercedes-Benz, along with German automakers BMW and Volkswagen, relies heavily on revenues from China, its largest market. These companies also produce several models in China, further underscoring the significance of the EU’s decision on import tariffs for Chinese electric vehicles.