Tesla hikes Model 3 prices in Europe due to tariffs on China-made EVs

admin admin | 07-11 16:30

Tesla was classed as cooperating with the European Union's investigation into the matter and so was given a 20.8% tariff but requested a recalculation of its rate, according to the Commission.
Tesla has raised prices of its Model 3 cars in European countries including Germany, the Netherlands and Spain by about 1,500 euros (USD 1,622) after the EU imposed tariffs on EVs made in China, the U.S automaker said on Wednesday.

Tesla, which makes the Model 3 in Shanghai and is the top exporter of EVs from China, had warned in June it might lift prices due to the tariffs imposed on July 4 by the European Commission to counter what it described as a potential flood of unfairly subsidised EVs. Beijing rejects this characterisation.

The tariffs, which are provisional and will be applied until the Commission decides whether to apply final duties by November, are up to 37.6% depending on the carmaker.

Tesla was classed as cooperating with the European Union's investigation into the matter and so was given a 20.8% tariff but requested a recalculation of its rate, according to the Commission.

BMW has also asked Brussels to cut the tariff for its China-made electric Mini, currently subject to the highest duty, to 20.8%.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Ola Electric responds to ARAI notice, says prices of S1 X 2 kWh scooter unchanged

Ola Electric provided an invoice dated October 6, showing a INR 5,000 discount given to customers, a...

Hyundai Motor IPO’s off to a slow start

Around 35% of the total shares in the offering are reserved for retail investors, while QIBs and NII...

Under fire, Ola Electric taps EY India to get back on track

Close to a dozen executives from EY came on-board at Ola Electric a few weeks ago on deputation for ...

Tata Motors secures 5-star BNCAP safety ratings for Nexon, Curvv, and EV models in latest crash tests

Tata Curvv.EV BNCAP testTata Motors did it again! Tata Motors has once again secured 5 star rating i...

India needs to step up manufacturing to meet Viksit Bharat goal: Volvo Grp India MD

Volvo Group India Managing Director and President, Kamal Bali. The manufacturing sector is a weak li...

Dollar pullback to help Indian rupee, weak risk appetite to weigh

Investors are now nearly certain that the U.S. Federal Reserve will deliver a 25-basis-point rate cu...