· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: BMW and Tesla Shanghai have filed lawsuits against the European Commission over tariffs imposed on electric vehicles (EVs) imported from China
• They join Chinese automakers like BYD, SAIC, and Geely in opposing these trade measures
• Tesla's and BMW's shares fell following the lawsuit announcement
🔭 The context: The EU recently imposed tariffs of 7.8% on Tesla’s China-made EVs and 20.7% on BMW’s, with other Chinese manufacturers facing levies between 17% and 35.3%
• The move aims to counter unfair competition from Chinese firms benefiting from state subsidies
• BMW argues that these tariffs harm global businesses and slow down decarbonization efforts
🌍 Why it matters for the planet: The legal battle could influence global EV trade policies and the transition to clean transportation
• If tariffs remain, European consumers may face higher EV prices, potentially slowing down adoption
• Removing tariffs could, however, intensify competition for European automakers, potentially leading to efficiency gains and innovation
⏭️ What's next: If successful, the lawsuits could annul EU tariffs on Chinese EVs and allow affected companies to claim losses. Negotiations remain possible, with the EU willing to discuss a fair resolution
• Meanwhile, Chinese automakers are shifting focus to hybrid vehicles, which are not subject to current tariffs
💬 One quote: "The countervailing duties harm the business model of globally active companies, they limit the supply of e-cars to European customers and can therefore even slow down decarbonisation in the transport sector." — BMW spokesperson (via The Wall Street Journal)
📈 One stat: BMW’s China-produced EVs face a 20.7% tariff, while Tesla’s face 7.8%, in addition to the standard 10% import tariff on all cars
Click for more news covering the latest on mobility tech
