Comment on Tesla could come out on top after the EU cracks down on Chinese EVs

Tesla could come out on top after the EU cracks down on Chinese EVs

Tesla CEO Elon Musk. Christian Marquardt - Pool/Getty ImagesEurope is cracking down on EVs coming from China, imposing new tariffs on imports. Tesla is reportedly lobbying for a lower rate of tariffs. The European Commission has confirmed it is exploring Tesla's request.Elon Musk might be about to outmaneuver Tesla's Chinese EV rivals in Europe.The European Commission confirmed Wednesday that Tesla — which manufactures EVs for the European market at its Shanghai gigafactory — may receive its own special rate of tariffs.The Musk-run automaker had lobbied for a lower tariff rate than its Chinese rivals, according to Bloomberg, pointing out that it had received fewer state subsidies from the Chinese government than companies like BYD and Geely.A spokesperson for the European Commission told CNBC looking at the subsidies Tesla has received in China "may lead indeed to different level of countervailing duties." It's unclear if Tesla would benefit overall as the tariffs will likely be relative to the subsidies it has received.

 

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