The EU Commission recently imposed additional taxes on electric vehicles imported from China. Automobile manufacturer Volvo is not very happy with this decision.
Recently, the rise of Chinese automobile manufacturers has begun to disturb some countries. The European Union (EU) wants to prevent this rise by imposing additional taxes on Chinese brands.
Recently, US President Joe Biden increased the 25 percent tax on Chinese electric vehicles to 100 percent.
Türkiye and the European Union also decided to impose additional taxes on Chinese brands.
Volvo, the automobile brand headquartered in Sweden but owned by the Chinese Zhejiang Geely Holding Group, criticized the new high tax tariff that the European Commission plans to apply to Chinese-made electric cars exported to Europe.
Volvo deputy CEO Bjorn Annwall said customers would get more money out of their pockets.
Volvo's EX30 electric compact SUV model is produced in China and exported to Europe. Volvo also imports small quantities of the XC60 mid-size SUV and S90 sedan into Europe.
Volvo will start production of the EX30 for European markets in 2025 at its factory in Ghent, Belgium.
Volvo deputy CEO said the EX30 model will now be imported from Belgium, not China, to avoid high taxes.
While electric car sales have been falling recently, many brands have suspended their future plans.
Volvo deputy CEO Bjorn Annwall said that despite declining electric vehicle sales in the region, Volvo will stick to its strategy of abandoning internal combustion engine vehicles in Europe by 2030 and selling only electric vehicles.
Comments powered by CComment