The EU lowers the tax rate on China’s Volkswagen Cupra Tavascan and BMW MINI to 21.3%. On August 20, the European Commission released a draft of the final results for its investigation into Chinese electric vehicles. A source revealed that, under the EU’s new plan, the Cupra Tavascan, produced by Seat in China, will face a reduced tariff of 21.3%. Meanwhile, BMW announced that the EU classified its joint venture, Beam, as a company cooperating with the sampling investigation. This classification allows Beam to qualify for the lower 21.3% tariff. Beam is a joint venture between BMW and Great Wall Motors, responsible for producing the all-electric MINI in China.
Apart from Volkswagen and BMW, a reporter from MLex reported that the EU has significantly lowered Tesla’s import tax rate on cars made in China from the planned 20.8% to 9%. This rate will be the lowest among all car manufacturers. Additionally, the EU has slightly reduced the temporary tax rates for three Chinese companies previously surveyed. BYD’s tariff dropped from 17.4% to 17%. Geely’s tariff decreased from 19.9% to 19.3%. SAIC’s tax rate fell from 37.6% to 36.3%. According to the EU’s latest plan, companies cooperating with the EU’s anti-subsidy investigation, like Dongfeng Motor Group and NIO, will face a 21.3% tariff. Companies not cooperating will face a maximum tax rate of 36.3%, still lower than the highest temporary rate of 37.6% set in July.