The European Commission on Thursday published the findings of its nine-month investigation into China's electric vehicle market, giving insight into how it calculated tariffs and the evidence it collected to support its highest profile trade case. The report details reluctance by the Chinese government and state-owned automaker SAIC to cooperate with the Commission's investigation into whether Chinese EV makers benefit from unfair state support. That justified imposing the top tariff rate of 37.6% on SAIC, while fellow Chinese automakers BYD and Geely face lower tariffs of 17.4% and 19.9% respectively to reflect their cooperation.
Q1 2024 Polestar Automotive Holding Uk Plc Earnings Call
(Reuters) -Oil producer Saudi Aramco will buy a 10% stake in a thermal engines joint venture between French carmaker Renault and Chinese automaker Geely, the companies said on Friday, valuing the business at 7.40 billion euros ($7.93 billion). Geely and Renault will own around 45% each of the powertrain venture, called Horse Powertrain, which will supply gasoline engines, hybrid systems and gearboxes for thermal vehicles.