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BYD COMPANY/ GEELY AUTO/ SAIC Motor File Challenges to EU EV Tariffs
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Chinese electric vehicle (EV) makers BYD COMPANY (01211.HK), GEELY AUTO (00175.HK), and SAIC Motor (600104.SH) filed a lawsuit in the EU General Court on Tuesday (21st) to challenge the EU's imposition of additional tariffs on imported Chinese EVs, according to Reuters. The three companies face additional tariff rates of 17%, 18.8%, and 35.3% on top of the standard 10% import tariff. They filed the lawsuit one day before the appeal deadline on Wednesday (22nd). The China Chamber of Commerce for Import and Export of Machinery and Electronic Products also filed a lawsuit on Wednesday representing Chinese EV makers to challenge the EU's decision, said the Chinese Chamber of Commerce to the EU. AAStocks Financial News |
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