On August 20, the European Commission announced the final ruling on the anti-subsidy investigation. It will impose tariffs of 17% to 36.3% on pure electric vehicles imported from China. SAIC Motor Corporation will face a 36.3% tariff. SAIC stated it will maintain open communication and active cooperation with global partners. It will also take all necessary legal and business measures to protect its rights and the interests of its global customers as the situation develops.
SAIC Group acknowledges the short-term fluctuations in overall sales this year. The company aims to recover and achieve month-over-month sales growth. At the first extraordinary shareholders’ meeting for 2024, President Jia Jianxu stated, “SAIC’s sales in Europe will not be lower than last year. Our MG HEV products will soon enter Europe. The enthusiasm for HEV vehicles exceeds our expectations. Some orders will not be delivered until the first quarter of next year.” The European Commission plans to make a final decision by October 30. Based on the Commission’s findings, SAIC Group will take further legal measures to protect its rights.
