The European Commission accepts Volkswagen's commitment on the pricing of pure electric vehicles made in China

According to the European Union Chamber of Commerce in China, on February 10, the European Commission announced the acceptance of Volkswagen's price commitment regarding the export of pure electric vehicles. According to this decision, Volkswagen (Anhui) Co., Ltd. can export its CUPRA Tavascan model to the EU at its proposed minimum import price or above that price, and will be exempt from the anti-subsidy tax previously imposed on pure electric vehicles imported from China.

The European Commission stated that this price commitment was proposed by Volkswagen and its affiliate in the EU—SEAT S.A., located in Martorell, Spain. After completing the relevant investigation, the Commission concluded that the price floor set by Volkswagen for this specific model would not harm the EU industry, and therefore decided to accept it.

In addition to selling at the minimum import price, Volkswagen also committed to limiting the quantity it exports to the EU and will invest in a series of significant projects related to pure electric vehicles in the EU. These investments will set clear phased goals to support the EU industry strategy and promote alignment with the EU's climate transition goals.

The European Commission pointed out that the price commitment is a voluntary arrangement, where exporters commit to selling products subject to anti-subsidy measures to the EU at no less than the minimum import price, in exchange for being exempt from the relevant anti-subsidy tax. If the commitment terms are not adhered to, including failure to complete the agreed investment milestones, the European Commission may revoke the commitment and retroactively restore the tax.

This article is sourced from: Jiemian News