Market Chatter: BYD, BAIC Look to Keep Europe Prices Unchanged in 2024 Despite EU Tariffs

MT Newswires Live10-09

European Union's newly approved tariffs on Chinese electric vehicles will not immediately impact the prices of BYD (HKG:1211, SHE:002594) and BAIC Motors (HKG:1958), Yicai reported Tuesday, citing Chinese manufacturers.

SAIC's MG Motors said the EU vote will not affect the price of its cars sold in France this year, while BYD said the prices of its EVs in Europe, like Italy, will remain the same until the end of 2024, according to the report.

The EU on Oct. 4 approved an additional levy of 17% on BYD, 18.8% on Geely, and 35.3% on SAIC's new energy vehicles, the report said.

US car giant Tesla's China-made vehicles will be impacted the least, with 7.8%, Yicai reported.

China is currently in talks with the EU over the tariff, the publication said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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