A majority of German industrial companies support punitive tariffs on electric cars China away. More than 80 percent see them as “justified” or “partially justified” – assuming that the EU Commission comes to the conclusion that electric cars are being unfairly subsidized, like one Survey by the Cologne Institute of German Economics (IW)
resulted. Around 800 companies from the industrial and industry-related services sectors were surveyed.
A decision from the EU Commission on punitive tariffs on electric cars from China is expected this week USA have already decided. US President Joe Biden (81) increased the special tariffs on electric cars from China from 25 to 100 percent.
Top managers of BMW, Mercedes and Volkswagen have warned against imposing import duties on vehicles from China. According to estimates by analysts at HSBC bank, German car manufacturers generate 20 to 23 percent of their profits in the world’s second largest economy. In addition, a large proportion of the cars imported into the EU from China come from European manufacturers. Chancellor Olaf Scholz (65; SPD) was also skeptical.
China’s star riser BYD also has sales problems in Europe. In Bremerhaven, where the company’s new cars arrive by ship, the vehicles are piled up, as a recent site visit shows
.
The survey also shows that low prices from Chinese competitors are not just a phenomenon of the auto industry. Almost 80 percent of the approximately 350 German companies surveyed with Chinese competitors stated that they were undercut in price for comparable products. More than a third even report that competitors from the People’s Republic offer their products more than 30 percent cheaper.
China has reprimanded the EU over the anti-subsidy investigation, but has urged cooperation and lobbied individual EU countries. The People’s Republic has now announced that it will do so To raise import duties on western combustion engines.