Hungarian Prime Minister Viktor Orbán delivered a speech in the European Parliament, severely criticizing the EUs decision to impose tariffs on Chinese electric vehicles, saying that this measure would be counterproductive and have a serious impact on the European automotive industry.
The U.S. Department of Commerce proposes to ban imports of Chinese and Russian VCS and ADS technologies, with software restrictions starting in 2027 and hardware restrictions in 2030. Enterprises need to strengthen compliance management and adjust supply chains to adapt to the new regulations.
In recent years, the influence of Chinese new energy vehicles in the global market has been increasing day by day. Especially in the Central Asian market, the export volume of Chinese new energy vehicles is growing rapidly. It is reported that since 2023, the export of commercial vehicles at the Horgos Port in Xinjiang has shown a rapid growth trend, and more than 35,000 vehicles have been exported so far.
European and American automakers face electrification challenges, while Chinas electric vehicle market accounts for over 50% of the global share, with cost advantages and a complete supply chain enhancing the global competitiveness of Chinese EVs.
Explore the EUs anti-subsidy investigation into Chinese electric vehicles, its impact, and how Chinese automakers are responding.
EU member states are divided on imposing tariffs on Chinese electric vehicles, with Germany abstaining, Italy and Spain supporting, and other countries stances unclear, impacting China-EU trade relations.
Starting from July 5, 2024, the EU imposed provisional countervailing duties on Chinese-made electric vehicles, with rates ranging from 17.4% to 37.6%. Germany strongly opposed the measure due to its reliance on the Chinese market, putting China-EU trade relations to the test.
Why have Chinese automobile exports risen in the global market? Why has Russia become the largest importer? Understand the competitiveness of Chinese automobiles in the global market and the close cooperation in Sino - Russian automobile trade.
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PSB Record: Shanghai No.31011502009912
