Volvo is moving EV production from China to Belgium as the EU eyes tariffs on Beijing

On prime of transferring manufacturing of Volvo’s EX30 and EX90 fashions to Belgium, the carmaker can also transfer meeting of some Volvo fashions sure for the UK, the report stated, citing unidentified individuals. Volvo, which is owned by Zhejiang Geely Holding Group Co., is seen as probably the most uncovered amongst western automakers to the potential tariffs, the Occasions stated.

Commerce frictions between the EU and China have led to a barrage of anti-dumping probes towards Beijing amid allegations of unfair subsidies. The EU is anticipated to inform EV makers in China as early as this week on whether or not it can impose provisional tariffs from July 4 that will enhance import duties above the present stage of 10%. 

Volvo Automobile denied the Occasions’ report, saying “it’s untimely to take a position on the implications of what this investigation will conclude, or any potential measures.”

“The choice to additionally construct the EX30 in Ghent displays our ambition to construct our automobiles the place we promote them as a lot as potential,” a spokesperson stated in an emailed assertion. The extra capability in Belgium had been beforehand disclosed, in line with the corporate.

China final week accused the EU of working to “suppress” Chinese language firms and stated it can take motion to safeguard its pursuits.

The accusations of unfair competitors towards China are fully unfounded, Xinhua Information Company reported Sunday, citing earlier feedback from Commerce Minister Wang Wentao. Wang stated he hoped the EU would abandon commerce protectionism and return to the trail of dialog and cooperation, Xinhua stated.

In a separate dispute, Chinese language dairy firms are making ready to ask Beijing to open an anti-dumping investigation towards imports from the EU, the World Occasions reported yesterday, with out offering particulars.