The European Union recently announced that it will impose customs duties of up to 38 percent on automobiles imported from China. Chery Automobile took the first step against this situation that affects many brands from Chery to BYD. The company is starting production in Europe.
Chery will produce in Spain for Europe
Chery wants to mitigate the effects of the new customs duties imposed by the European Union. In this context, it announced that it plans to start producing electric cars in the factory it has purchased in Spain by the end of the year. Cars produced in this factory can also be exported to our country.
As part of a plan to reduce carbon emissions, the EU has started to impose various customs duties on electric vehicles imported from China. This will significantly increase the prices of electric vehicles exported by Chinese brands to the European market.
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Chery Vice President Zhang Jian announced plans to start production in Spain later this year. The plant in Barcelona will be Chery’s first in Europe. However, Zhang stated that the current plant is not big enough for the company’s medium and long-term goals in the region.
Production in Europe may also contribute to our country. For those who don’t know, last week the President’s decree imposed additional customs duty (ADT) on certain Chinese automobiles. In other words, a 40 percent increase is on the way for these cars. However, thanks to imports from Spain, this tax can be bypassed.
Chery will be the first major Chinese automaker to produce vehicles in Europe. We will see in time whether brands like BYD will follow this step.
