Chinese EV Companies Register Sales Surge As EU Motorists Look To Buy Before Tariffs Bite

12/13/2024 4:10:11 AM

(MENAFN- Investor Brand Network) Chinese electric-vehicle companies registered a
surge in EV sales
in the European market, currently the second-largest electric vehicle market on the globe, in June as customers raced to beat the impending tariffs on Chinese EVs. As with the United States, the European Union has taken a somewhat combative stance against new energy vehicles manufactured in China. However, while the U.S. recently passed a
100% import tariff
on Chinese electric-vehicle imports, the European Union adopted milder import tariffs.

Even so, these tariffs will cause Chinese electric cars to lose their affordability once they hit European ports, eliminating the crucial factor that...

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