Friday, July 12, 2024

SAIC Motor Challenges EU Tariffs on Chinese EVs, Calls for Fair Market

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SAIC Motor, a leading Chinese auto manufacturer, announced today its intention to petition the European Union for a hearing to address additional tariffs on Chinese electric vehicles (EVs), asserting its stance to protect its interests and those of its customers.

In a statement, SAIC expressed its formal request for the European Commission to conduct a hearing regarding the provisional countervailing duty measures imposed on Chinese EVs. The company highlighted discrepancies in the European Commission’s calculations, noting a subsidy rate initially set at 38.1 percent, which was later adjusted to 37.6 percent in a preliminary ruling on July 4.

“SAIC has promptly filed defenses against the preliminary rulings, citing unreasonable aspects and errors in the subsidy investigation,” the company stated.

The investigation has raised concerns for SAIC, particularly regarding the inclusion of subsidies intended for Chinese consumers of new energy vehicles (NEVs) being misconstrued as subsidies for vehicles exported to the EU. SAIC emphasized that the European Commission overlooked critical information and defensive submissions during its probe, resulting in inflated subsidy rates.

“SAIC opposes artificial trade barriers and advocates for a fair and competitive market environment,” the company asserted, underscoring its substantial investments in research and development, which have bolstered its presence in Europe through brands like MG.

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