CAAM Decries EU's Anti-Subsidy Tariffs on Chinese EVs

The China Association of Automobile Manufacturers (CAAM) expressed strong dissatisfaction with the European Union's proposed anti-subsidy tariffs on electric vehicles imported from China. The CAAM claims the EU inquiry ignored facts and warns that the tariffs, ranging from 17.4% to 37.6%, could harm industry relations.

The China Association of Automobile Manufacturers (CAAM) has expressed strong dissatisfaction with the European Union's proposal to impose anti-subsidy tariffs on Chinese electric vehicles. The industry group made its stance clear in a statement released on Saturday.

According to CAAM, manufacturers had fully cooperated with the European Commission's investigation into Chinese subsidies. However, the group alleges that the inquiry ignored factual evidence, leading to preselected outcomes. As a result, the EU has imposed provisional tariffs ranging from 17.4% to 37.6% on Chinese electric vehicles, effective from Friday, with intensive talks expected between the two parties in the coming months.

"CAAM deeply regrets this and holds it firmly unacceptable," the statement read. The duties aim to prevent a potential influx of inexpensive Chinese electric vehicles supported by state subsidies, as claimed by European Commission President Ursula von der Leyen. The anti-subsidy investigation will continue for nearly four more months.

(With inputs from agencies.)