China’s electric vehicle (EV) exports to the European Union (EU) showed signs of recovery despite high tariffs, increasing significantly in December.
According to data released this week by China’s General Administration of Customs, 32,849 electric vehicles were exported from China to EU countries last month. This follows the downward trend observed in the previous two months, with December recording an 8.3% increase compared to the same period last year.
After the EU tariff hike, China’s exports fell by 40% in October compared to the same month last year due to the EU’s protective measures, and by 25% in November.
Tariffs still not enough to curb China’s EV exports
The European Commission will begin investigating subsidies for electric vehicles imported from China in October 2023. As a result, additional tariffs of up to 35% will be imposed on car imports from China. These additional tariffs, approved by EU Member States on October 4, 2024, increased the total tariff rate to 45%.
Despite a 6% decline in China’s electric vehicle exports to the EU in 2024, December data shows that it will account for nearly 30% of China’s total vehicle exports in that year, making it an important market for China’s EVs. It highlighted the role of the EU.
