SAIC Group submitted a hearing request to the European Commission on the imposition of additional tariffs and actively safeguarded its rights.

According to news on July 5, SAIC Motor issued an important statement today, indicating that it will take active measures to safeguard its own rights and interests and the interests of global customers. In response to the temporary countervailing duty measures recently implemented by the European Commission against Chinese electric vehicles, SAIC Motor has decided to formally request the European Commission to hold a hearing in order to further exercise its right of defense in accordance with the law. In the statement, SAIC Group listed the content of its defense in detail. They pointed out that the European Commission's countervailing investigation involves commercially sensitive information, such as requests for battery-related chemical formulas, etc., which is obviously beyond the scope of normal investigations. Secondly, SAIC Group expressed objections to the European Commission's determination of subsidies, especially the inclusion of new energy vehicle purchase subsidies for domestic consumers into the calculation of subsidy rates for EU sales. This approach was considered by them to be unreasonable. SAIC also criticized the European Commission for ignoring part of the information and defense submitted by them during the investigation process, and making an adverse inference based on the "non-cooperation with investigation" clause in Article 28 of the Basic Countervailing Regulations, thus inflating the figure. Subsidy rates for multiple projects.

Confirmed:
According to the editor’s understanding, starting today, the EU will impose a temporary tariff of up to 37.6% on electric vehicles from China. The measure is expected to be implemented within a four-month "window period", with final tariffs set to begin in November. During this period, China and the EU are expected to engage in more intensive negotiations.
According to the results of the EU's "countervailing investigation", SAIC Group will be levied an additional 37.6% tariff on top of the existing 10% tariff. At the same time, Geely and BYD will also face additional tariffs of 19.9% ​​and 17.4% respectively. Other Chinese electric vehicle manufacturers that cooperate with the investigation but are not randomly inspected will be levied an additional 20.8% weighted average tariff, while those that do not cooperate with the investigation will face a higher additional tax of 37.6%.
In the coming window, EU member states will vote on whether to convert temporary tariffs into formal tariffs for a period of 5 years. Currently, the EU and the Chinese government are still discussing at the technical level to find a solution that is consistent with WTO rules. Compared with the pre-disclosed tax rate on June 12, 2024, the temporary tariff implemented this time has been slightly reduced based on the opinions of relevant parties on the accuracy of the calculation.

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