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EU Rejects CN Proposal to Set Min. EV Price at EUR30K: Report
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The European Union (EU) has rejected the Chinese government's proposal to set a minimum price of EUR30,000 for electric vehicles (EVs) in an effort to prevent the EU from imposing extra tariffs on Chinese EVs, Reuters, citing sources, reported. The European Commission also rejected a similar proposal from China a month ago, pointing out that the issue is not only about pricing but also about the subsidies received by EV makers and the impact of removing those subsidies. The cost of Chinese EVs is less than half that of European and US EVs, according to JATO Dynamics. In 1H23, the battery electric vehicles (BEVs) in China were priced at about EUR32,000, including BYD COMPANY (01211.HK)'s Seagull priced below EUR10,000. The average price of an EV in Europe was EUR66,000, with the cheapest models at around EUR20,000 expected to be rolled out as early as next year, including Volkswagen's target to launch in 2027. AAStocks Financial News |
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