Tesla Expects To Raise Model 3 Prices In Europe After Higher EU Tariffs On China Evs

Tesla expects to raise Model 3 prices in Europe after higher EU tariffs on China EVs - Merchant Navy Info - NEWS

Following the announcement by the European Union that it may impose temporary higher tariffs on electric vehicles. Imported from China. Tesla announced on Thursday that it would likely increase the European price of its Model 3 from July 1. “We expect that we will have to increase the price of the Model 3 from July 1, 2024.” Tesla’s website states. “This is due to the possibility of additional import tariffs being imposed. On electric vehicles manufactured in China and also sold in the EU.”

At this time, the company has not said how much it plans to increase the price of the Model 3 in Europe. The European Commission, the EU’s executive body. Announced this week that it would increase tariffs on cars imported from China into the 27-nation bloc. The tariff increase is the result of an EU investigation into China’s electric vehicle sector. Which concluded that China’s battery electric vehicle value chain “benefits from unfair subsidies.” 

These temporary tariffs will take effect from July 4 if the EU cannot find a solution with Chinese authorities. The so-called final measures will be implemented in four months. Chinese electric cars are now subject to tariffs of up to 38.1%. While some electric car makers have received specific tariffs. Tesla has not yet been informed of the exact tariff rates it will have to pay on cars made in China and also imported into the EU. The European Commission said at the time that Tesla “can receive an individually calculated tariff rate.” Shanghai is home to one of Tesla’s largest giga factories. Chinese state media said the US carmaker will deliver 947,000 cars from its Shanghai factory in 2023, of which 600,000 are destined for the Chinese market and the rest are exported.

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