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volkswagen: if the eu imposes tariffs on chinese electric vehicles, its cupra brand may be "annihilated"

2024-09-04

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it home reported on september 4 that on the evening of the 3rd beijing time, wayne griffiths, ceo of volkswagen's cupra brand, told reuters that if the european commission imposes a 21.3% tariff on cupra's pure electric suv tavascan, the cupra brand may be "annihilated."

it home note: tavascan is an electric car designed by the cupra brand in spain and produced in china. it is priced at approximately us$52,000 (currently approximately rmb 370,000). the car is produced in a factory jointly built by volkswagen and jac motors group.

wayne griffiths said bluntly that if tavascan sales do not meet expectations, cupra will not be able to meet the eu's co2 reduction targets next year, and will face huge fines, forcing it to cut production and possibly affecting employment at its spanish base. "this puts the company's entire financial prospects at risk. the original purpose of (the eu) doing this was to 'protect' the european automotive industry, but for us, it has had the opposite effect."

bmw's all-electric mini model, produced by its chinese joint venture beam automotive, has faced similar difficulties - the car was initially proposed to be subject to a 38.1% tariff in the eu plan, but the final tariff was set at 21.3%. at the same time, brussels reduced the proposed tariffs on tesla, which has a large factory in shanghai.