Tesla's Shanghai Plant Audited by EU Inspectors, Potentially Lowering Duties, According to Report

Money | July 5, 2024, 2:04 a.m.

European Union inspectors recently visited Tesla's Shanghai factory, potentially paving the way for the company to receive a lower duty on cars manufactured in China and exported to the EU. This move could mean Tesla receives a duty lower than the average of 21 percent, as only individually verified producers are eligible for this benefit. Despite initially not being selected for a visit during an anti-subsidy investigation in China, Tesla applied for individual treatment and had its request granted. The European Commission recently disclosed provisional countervailing duty rates for battery electric vehicles (BEVs) imported from China, with Tesla being listed among the producers that cooperated with the investigation but were not sampled. The announcement of provisional countervailing duties on BEVs imported from China is set to take effect on July 5, with revised rates for Chinese producers like BYD, Geely, and SAIC.