EU imposes tariffs on Chinese EVs despite fears of retaliation

The EU imposed tariffs on Chinese electric vehicles, ranging from 17.4% to 37.6%, due to "unfair" subsidies. Volkswagen criticized the move, fearing retaliation from Beijing. Stellantis aims to stay competitive. The EU investigation found Chinese producers benefited from subsidies throughout the production process. The tariffs will be in place for five years if approved by the EU's 27 member states. China holds a 25% share of the EU electric car market.