Chinese EV Maker Nio Slams ‘Unreasonable’ US, EU Tariffs
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Nio Inc. founder William Li hit out at the European Union and the U.S., saying their moves to level tariffs on electric cars are unreasonable and urged them to cooperate with, rather than fight, China.
Expanding the use of electric vehicles is a crucial step in combating climate change and achieving sustainable global development, and any measures aimed at impeding this process would be unwise, Li said in a recent interview, industry publication Dongchedi reported.
Th European Union has proposed introducing tariffs on electric vehicles imported from China, claiming companies there benefit unfairly from state subsidies and are flooding Europe with surplus production. The bloc is expected to vote on the decision early next month.
Beijing has dismissed the EU’s anti-subsidy probe as protectionist, and has been in intensive talks with the EU to explore alternatives to tariffs. The two sides are discussing a mechanism to control prices and volumes of exports, but the negotiations are yet to produce a resolution.
On September 16, the NIO EL8 (ES8 in the Chinese market) began its first deliveries to European users. We warmly welcome more friends to join the NIO family and embark on a new journey, shaping a sustainable and brighter future together.#NIO #BlueSkyComing #EL8 pic.twitter.com/UrAUqybffF — NIO (@NIOGlobal) September 18, 2024
China’s auto brands also face increased duties in the US starting this month after President Joe Biden announced tariffs of 100% on Chinese electric vehicles in May.
Nio’s Li said the moves by the EU and the U.S. to impose tariffs on Chinese electric cars indicate the country’s competitiveness and advantages in the sector. However, politicizing economic behavior is neither appropriate nor beneficial to the industry’s healthy development globally, he said.
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