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On August 20, local time, the European Commission disclosed to relevant parties the draft decision on the final anti-subsidy tax on pure electric vehicles imported from China. The proposed tax rate was slightly adjusted:

BYD: 17.0%

Geely: 19.3%

SAIC Motor: 36.3%

Other partner companies: 21.3%

All other non-cooperative companies: 36.3%;

It was decided to apply a separate tariff rate to Tesla as an exporter to China, currently set at 9%;

The European Commission also decided not to apply anti-subsidy duties retroactively.

Interested parties can request a hearing from the Commission's service department as soon as possible and provide comments within 10 days.

Subsequently, after taking into account the opinions of interested parties, the Commission will submit its final decision to the Member States, which will vote in accordance with the review procedure of the Commission's rules (unless there is a majority vote against, in which case the Commission's proposal will be adopted). This vote will be binding.

Final measures must be implemented within four months of the imposition of provisional duties. The Commission Implementing Regulation including the final findings of the investigation will be published in the Official Gazette no later than 30 October 2024 (and no later than 13 months from the start of the investigation).

Any potential measures would be effective for five years and could be extended upon justified request and subsequent review.

On October 4, 2023, the European Commission launched an anti-subsidy investigation against Chinese electric vehicles. On July 4, 2024, the European Commission announced a preliminary ruling to impose a temporary anti-subsidy tax of 17.4% to 37.6% on Chinese electric vehicles. The final ruling will be disclosed on August 20, 2024, and the final ruling will be made before November 4. (Reporter Lu Mu of CCTV)