JOURNAL ARTICLE

Volvo moving more EV production to Belgium ahead of tariff hikes – report.

  • Published In: Aroq - Just-Auto.com (Global News), 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Leggett, David 3 of 3

Abstract

Volvo Cars, owned by Geely, is planning to move more of its manufacturing of China-made cars to a plant in Belgium to avoid new import tariffs imposed by the EU on Chinese cars. The company may cease sales of Chinese-built electric vehicles if the new tariffs are introduced. The EU Commission is currently investigating anti-competitive subsidies benefiting Chinese car companies, and if the tariffs are increased, it could lead to retaliation from Beijing. Chinese car companies, such as BYD, are targeting the European market with low-price electric cars, posing a competitive threat to European OEMs. The Biden administration in the US has also recently raised tariffs on Chinese car imports to 100%. [Extracted from the article]

Additional Information

  • Source:Aroq - Just-Auto.com (Global News). 2024/06, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2024
  • Accession Number:177778628
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