The European Union and China will explore setting minimum prices for China-made electric vehicles as an alternative to tariffs imposed by the bloc in 2024, Reuters reported Thursday, citing EU trade commissioner Maros Sefcovic.
China's top EV makers include BYD (SHE:002594, HKG:1211), Li Auto (HKG:2015), XPeng (HKG:9868) and NIO (HKG:9866, SGX:NIO).
EU imposed tariffs of up to 45.3% on China-built EVs in October 2024, but the bloc and Beijing have considered the implementation of price undertakings for imported cars as an alternative to duties, the report said.
The Chinese Commerce Ministry has confirmed negotiations were to start immediately, Reuters reported.
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