Chinese carmakers Xpeng and Nio announced on Friday that they will maintain prices for electric vehicles in the European market, despite tariffs provisionally imposed by the EU since this week.
Xpeng, which recently expanded its presence in the European market, said European consumers who have already ordered or are awaiting delivery of vehicles “will not experience a price increase.”
The company has expressed its commitment to the European market and its intention to achieve a 3% market share in the electric vehicle segment in Germany by the end of the year, according to the financial portal Sina Finance.
Chinese carmakers XPeng and NIO will not abandon the European market
Xpeng also has plans to enter the British and Italian markets.
Nio, quoted by specialist publication Auto Home, said it would “maintain current prices” for its products in Europe and “continue to provide quality service to users” on that continent.
The company, based in Shanghai and considered one of Tesla’s biggest rivals in the Asian countryThe Commission is confident that “adequate competition in the market will benefit consumers” and hopes to “reach a solution with the EU” before the final implementation of the fees in November 2024.
The rates, which will be added to the 10% already applied, average 21%, a value lower than expected by experts.
BYD and Geely will pay taxes at a slightly lower rate than 17.4% and 20%respectively, after having cooperated in the investigation, while SAIC will pay taxes at the rate maximum rate (38.1%)for failing to cooperate in the investigation.
Four months before punitive tariffs finally come into force, Beijing is stepping up trade pressure.
China says it will abide by rules in European pork probe
In recent weeks, Chinese authorities have hit back with an investigation into European pork and the imposition of additional customs duties on large vehicles and investigations. antidumping —selling price below the cost of production—for dairy products in the Community bloc.
Source: Observadora
