PARIS – Chinese brands MG and Nio (NYSE: NIO) suggested on Thursday they might raise the prices of their cars in Europe later this year, following the European Union’s decision to confirm tariffs on Chinese-imported EVs.
The EU will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels’ largest trade case yet.
Chinese automaker Nio said in a statement that it might adjust the prices of its cars in Europe due to the EU’s decision on tariffs.
A spokesman for MG in France told Reuters the automaker had enough vehicles in stock “to last until November without increasing prices”, particularly the MG4 model.
The MG is produced by China’s Saic Motor.
The EU has imposed a tariff of 37.6% on Saic Motor’s EVs and a tariff of 20.8% on EVs produced by Nio.
MG’s country manager for Italy Andrea Bartolomeo told Reuters that “for the moment” the brand was not planning any price action on its car line-up in the country.
(Source: Reuters)
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