The European Commission's plan to register electric vehicles imported from China for customs means that if the EU investigation finds that Chinese electric vehicles are receiving unfair subsidies, tariffs will be imposed on Chinese electric vehicles, calculated from the date of registration.
According to Reuters, the European Union said in a document released on Tuesday (March 5) that there is currently enough evidence that Chinese electric vehicles are subsidized. Since the launch of the countervailing investigation in October last year, China's EV imports have increased by 14% year-on-year.
If Chinese EV imports continue to accelerate into the EU at this rate before the end of the countervailing investigation, EU producers could suffer damage that would be difficult to remedy, the EU said.
The scheme is likely to be published in the Official Journal of the European Union in a few days, and customs registration will begin the day after it is published.
The European Union Chamber of Commerce in China expressed disappointment at the move, arguing that the surge in China's EV imports reflected growing demand for EVs in Europe.
The European Union is currently launching a countervailing investigation into China's electric vehicles, and the EU believes that China** has depressed electric vehicles through huge state subsidies**, allowing China's cheap electric vehicles to flood the European market. The investigation is expected to conclude in November, but the EU could start imposing temporary tariffs in July.
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