Chinese EV maker Nio slams ‘unreasonable’ US, EU tariffs

NIO founder William Li hit out at the European Union and the US, 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 (EVs) 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, industry publication Dongchedi reported.

Th European Union has proposed introducing tariffs on EVs 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 have yet to produce a resolution.

China’s auto brands also face increased duties in the US starting this month after President Joe Biden announced tariffs of 100 per cent on Chinese EVs in May.

Nio’s Li said the moves by the EU and the US to impose tariffs on Chinese electric cars indicate the country’s competitiveness and advantages in the sector. However, politicising economic behaviour is neither appropriate nor beneficial to the industry’s healthy development globally, he said. BLOOMBERG