EV tariffs to slow but not stop Chinese carmakers to grow presence in Europe
Goldman Sachs expects that Europe’s plan to impose additional import duties on EVs produced in mainland China would accelerate Chinese EV makers’ localization plans in the EU region
The European Commission’s new tariffs on made-in-China electric vehicles may slow down Chinese carmakers looking to grow sales in Europe, but would not stop leading players such as BYD from penetrating further and continuing to pose serious competition to local carmakers, according to a news report published by Nikkei Asia on June 13.
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