The European Union is imposing additional tariffs on electric vehicles imported from China, ranging from 17 to 38 percent, due to unfair subsidies by the Chinese government.
The Chinese government denies subsidizing the electric car industry, attributing low prices to competition and innovation. Talks are ongoing to resolve the dispute.
Automakers need to provide guarantees from banks for paying eventual taxes. The tariffs vary based on the estimated scale of Chinese manufacturers' subsidies.
SAIC Motor faces a 37.6% tariff for lack of subsidy disclosure, while BYD and Geely face lower tariffs at 17.4% and 19.9% respectively.
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