China-built EVs hit with EU tariffs; Nio says it may have to raise prices in Europe
Summary
The European Union on Thursday confirmed its decision to hike tariffs on electric vehicles imported from China — with one automaker issuing fresh warnings that it may have to raise prices as a result. A spokesperson for another Chinese EV upstart, Xpeng said on Thursday that customers who are awaiting deliveries of cars, or those who place new orders before the tariffs take effect, will be "protected from any price increases." When the EU first announced the tariffs last month, Tesla said it will likely increase the Europe prices of its Model 3 vehicle. The EU has yet to say what specific level of tariffs Tesla will face, but noted last month that the U.S. automaker "may receive an individually calculated duty rate." Chinese Commerce Ministry spokesperson He Yadong said on Thursday that he hopes the two sides will "meet each other halfway, show sincerity, speed up the consultation process, and, on the basis of rules and reality, reach a mutually acceptable solution as soon as possible."