“45.3% European tariffs force new energy technologies to undergo significant localization efforts when going global”

In response to the high tariffs of 45.3% imposed by the EU on Chinese imported new energy vehicles, Chinese new energy vehicle companies are accelerating their localization efforts in the European market. Many companies plan to establish production bases in Europe to avoid tariff barriers through local production. This initiative aims to promote the deep integration of China’s new energy industry into the European market in order to cope with increasingly severe policy challenges.