NIO responds to the EU’s plan to impose additional tariffs on Chinese electric vehicles: it is not conducive to global environmental protection and sustainable development

News from this site on June 12, the European Commission issued a statement today that it plans to impose temporary countervailing duties on electric vehicles imported from China starting from July 4.

Regarding the European Commission’s move to impose additional tariffs on Chinese electric vehicles, NIO told the Shanghai Stock Exchange that NIO strongly opposes the use of additional tariffs to prevent the normal trade of global electric vehicles, which is detrimental to global environmental protection. , emission reduction and sustainable development, it is an obstacle rather than a promotion.

According to inquiries on this site, Weilai officially announced that it would go to Europe in May 2021. The “first stop” was Norway and it began to provide products and services to the local market.

In August 2022, NIO held the NIO Berlin press conference in Berlin, the capital of Germany, announcing that it would provide services in the four markets of Germany, the Netherlands, Denmark, and Sweden, and begin to fully enter the European market. This move marks NIO’s accelerated expansion in overseas markets.

In the 2024 Q1 financial report conference call, Li Bin also revealed some information about overseas business. He said that the EU's anti-subsidy investigation into Chinese electric vehicles may announce preliminary results next week. We believe that increasing tariffs is a very wrong direction.

Li Bin emphasized that NIO’s sales in Europe accounted for a low proportion of the overall sales and would have little impact on NIO’s operations in the short term. In the long term, NIO will formulate reasonable strategies based on adjustments to tariff policies. In addition, NIO will also begin providing products and services in the UAE market later this year.

Related reading:

• "The EU plans to impose tariffs of up to 38.1% on Chinese electric vehicles: SAIC, Geely, BYD are named, BMW Volkswagen Benz openly opposes》

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