Volvo Automobile AB has begun transferring manufacturing of Chinese language-made electrical automobiles to Belgium because the European Union prepares to impose tariffs on Chinese language-made electrical automobiles, the Occasions studies.
Along with transferring manufacturing of the Volvo EX30 and EX90 fashions to Belgium, the automaker might also transfer meeting of some Volvo fashions to the UK, the report stated, citing unidentified individuals. Volvo, owned by Zhejiang Geely Holding Group Co., is taken into account probably the most weak to potential tariffs amongst Western automakers, the Occasions stated.
Commerce friction between the EU and China has led to a flurry of anti-dumping investigations in opposition to Beijing amid allegations of unfair subsidies. The EU is predicted to inform electrical automotive makers in China as early as this week whether or not it’s going to impose short-term tariffs from July 4, which is able to increase import duties above the present degree of 10%.
Volvo Automobile denied the Occasions report, saying it was “untimely to take a position on the implications of the findings of this investigation or any potential motion.”
“The choice to additionally construct the EX30 in Ghent displays our ambition to construct our automobiles the place we promote them probably the most,” the spokesman stated in an emailed assertion. In response to the corporate, the extra capability in Belgium was introduced earlier.
Final week, China accused the EU of “suppressing” Chinese language corporations and stated it will take motion to guard its pursuits.
China’s accusations of unfair competitors are fully baseless, Xinhua information company reported on Sunday, citing earlier feedback by Commerce Minister Wang Wentao. Wang stated he hoped the EU would abandon commerce protectionism and return to the trail of dialogue and cooperation, Xinhua reported.
In a separate dispute, Chinese language dairy corporations are getting ready to ask Beijing to launch an anti-dumping investigation into imports from the EU, the International Occasions reported yesterday, with out giving particulars.