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.h1, .h2, .h3, h1, h2, h3, .tt-title-text{ margin-top: 0px !important; margin-bottom: 0px !important; } } #fkgUBk { display: none; } </style> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:description" content="Stellantis CEO Carlos Tavares says the EU's hefty tariffs will push Chinese carmakers to build facilities in Europe – and that could add to the problem of China's industrial overcapacity" /> <meta name="twitter:title" content="Tariffs on Chinese EVs Will Speed up EU Plant Closures: Tavares" /> <meta name="twitter:site" content="@ATFinancial_" /> <meta name="twitter:image" content="https://www.asiafinancial.com/wp-content/uploads/2024/10/Carlos-Tavares-Stellantis-CEO-at-Paris-car-show-Rs.jpeg" /><script type="application/ld+json">{ "@context": "http:\/\/schema.org", "@type": "newsarticle", "inLanguage": "en", "url": "https:\/\/www.asiafinancial.com", "articleBody": " \r\n\r\nThe European Union's tariffs on electric vehicles made in China will speed up plant closures in Europe by local automakers, the CEO of carmaker Stellantis warned on Monday.\r\n\r\n<strong><a href="https:\/\/www.asiafinancial.com\/eu-backs-large-tariffs-on-chinese-evs-but-talks-will-continue">The tariffs<\/a><\/strong> will push Chinese manufacturers to build facilities in Europe \u2013 and that would exacerbate problems related to China's <strong><a href="https:\/\/www.asiafinancial.com\/us-eu-must-act-jointly-on-chinas-industrial-overcapacity-yellen">overcapacity<\/a><\/strong>, Carlos Tavares predicted on Monday at the <strong><a href="https:\/\/mondial.paris\/en">Paris Auto Show<\/a><\/strong>.\r\n\r\nEuropean governments, including Italy, are trying to attract Asian automakers as companies step up their commercial presence in the region, but they are more likely to be based in Eastern Europe, he suggested.\r\n\r\n \r\n<h3>ALSO SEE:\u00a0<a href="https:\/\/www.asiafinancial.com\/china-eyes-850bn-3-year-bond-issue-to-lift-slowing-economy">China Eyes $850bn 3-Year Bond Issue to Lift Slowing Economy<\/a><\/h3>\r\n \r\n\r\nManufacturing cars in Europe would allow Chinese companies, under certain conditions, to avoid duties on EVs being introduced by the European Union.\r\n\r\nTariffs were a "good communication tool" but have side-effects, Stellantis CEO Carlos Tavares said.\r\n\r\n"It increases the overcapacity of the manufacturing system of Europe. The way to avoid custom duties is to build in Europe," he added. "You are accelerating the need to shut down plants".\r\n\r\nSpeaking to Italian media, Tavares mentioned the case of Chinese EV giant <strong><a href="https:\/\/www.asiafinancial.com\/china-ev-giant-byd-to-build-first-europe-plant-in-hungary-fas">BYD, which is building its first European assembly plant in Hungary<\/a><\/strong>.\r\n\r\n"Chinese carmakers will not go to Germany or France or Italy to build their cars, because they would have cost disadvantages there, starting from energy costs," he said.\r\n\r\nRome, which is at odds with Stellantis over its declining output in Italy, has said it is in talks with Asian automakers over possible manufacturing investments, including with <strong><a href="https:\/\/www.asiafinancial.com\/as-eu-eyes-tariffs-european-states-chase-china-ev-factories">China's Dongfeng and Chery Auto<\/a><\/strong>.\r\n\r\n \r\n<h2>Xpeng: No intent to 'overthrow' Western rivals<\/h2>\r\nMeanwhile, Chinese carmakers at the car show in Paris \u2013 aware of the trade tension with the EU over their highly subsidized "EV invasion" \u2013 denied wanting to "overthrow" their western rivals, according to a <strong><a href="https:\/\/archive.is\/ciFel#selection-1735.0-1739.121">report by the FT<\/a><\/strong>.\r\n\r\n\u201cWe\u2019re a 10-year-old company. We\u2019re not going to overthrow anybody who\u2019s developed over 100 years,\u201d Xpeng co-president Brian Gu was quoted as saying, while showing off an EV with "highly advanced artificial intelligence technology."\r\n\r\nFeng Xingya, general manager of state-owned carmaker GAC, also reportedly displayed a conciliatory manner, saying: "When we come to the European markets, we come with an attitude to cooperate," he said, according to the report.\r\n\r\nTheir remarks are not surprising, given that Stellantis, which makes Peugeot and Fiat, and other local carmakers have issued profit warnings because of declining sales, as more citizens opt for EVs.\r\n\r\nSome, such as Renault, have also conceded that they may "need some help" with the production of EV batteries.\r\n\r\nThe key factor spurring this dramatic transition is, of course, the <strong><a href="https:\/\/www.theguardian.com\/environment\/2024\/oct\/15\/finland-emissions-target-forests-peatlands-sinks-absorbing-carbon-aoe">increasingly bleak news<\/a><\/strong> on global warming.\r\n\r\n \r\n<ul>\r\n \t<li>Reuters with additional input and editing by Jim Pollard<\/li>\r\n<\/ul>\r\n \r\n<h3>ALSO SEE:<\/h3>\r\n<h4 class="reports-big-head"><a href="https:\/\/www.asiafinancial.com\/eu-rejects-chinas-proposal-for-30000-euro-minimum-ev-price">EU Rejects China\u2019s Proposal for 30,000-Euro Minimum EV Price<\/a><\/h4>\r\n<h4 class="reports-big-head"><a href="https:\/\/www.asiafinancial.com\/eu-backs-large-tariffs-on-chinese-evs-but-talks-will-continue">EU Backs Large Tariffs on Chinese EVs But Talks Will Continue<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/chinese-carmakers-call-for-25-retaliatory-tariffs-on-eu-cars" target="_blank" rel="noopener">Chinese Carmakers Call For 25% Retaliatory Tariffs on EU Cars<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/stellantis-ceo-calls-china-ev-tariffs-a-trap-he-may-be-right" target="_blank" rel="noopener">Stellantis CEO Calls China EV Tariffs a \u2018Trap\u2019. He May Be Right<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/china-ev-firms-scaling-back-european-plans-over-subsidy-probe" target="_blank" rel="noopener">China EV Firms Scaling Back European Plans Over Subsidy Probe<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/european-farmers-fear-trade-war-with-china-over-ev-tariffs" target="_blank" rel="noopener">European Farmers Fear Trade War With China Over EV Tariffs<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/eu-tariff-fallout-china-warns-of-wto-suit-tesla-to-hike-prices" target="_blank" rel="noopener">EU Tariff Fallout: China Warns of WTO Suit, Tesla to Hike Prices<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/chinas-byd-welcome-to-open-an-ev-factory-in-france-minister" target="_blank" rel="noopener">China\u2019s BYD Welcome to Open an EV Factory in France: Minister<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/as-eu-eyes-tariffs-european-states-chase-china-ev-factories" target="_blank" rel="noopener">As EU Eyes Tariffs, European States Chase China EV Factories<\/a><\/h4>\r\n ", "articleSection": "Asia", "mainEntityOfPage": { "@type": "WebPage", "url": "https:\/\/www.asiafinancial.com\/tariffs-on-chinese-evs-will-speed-up-eu-plant-closures-tavares" }, "headline": "Tariffs on Chinese EVs Will Speed up EU Plant Closures: Tavares", "description": "Stellantis CEO Carlos Tavares says the EU's hefty tariffs will push Chinese carmakers to build facilities in Europe \u2013 and that could add to the problem of China's industrial overcapacity", "datePublished": "2024-10-15T10:27:44+00:00", "dateModified": "2024-10-15T10:27:44+00:00", "publisher": { "@type": "Organization", "name": "Asia Financial", "logo": { "@type": "ImageObject", "url": "https:\/\/www.asiafinancial.com\/wp-content\/themes\/atf\/images\/AF-logo-small.png", "width": "640", "height": "97" } }, "author": { "@type": "Person", "name": "Asia Financial" }, "image": { "@type": "ImageObject", "url": "https:\/\/www.asiafinancial.com\/wp-content\/uploads\/2024\/10\/Carlos-Tavares-Stellantis-CEO-at-Paris-car-show-Rs.jpeg" } }</script> <script async src="https://www.googletagmanager.com/gtag/js?id=G-CNH68EHNDT"></script> <script> window.dataLayer = window.dataLayer || []; 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font-size: 12px; font-weight: 500; margin-top: 10px; color: #aaaaaa;"> Stellantis CEO Carlos Tavares stands by a Citroen C5 Aircross concept car at the Paris Auto Show in this Reuters image, October 14, 2024. </figcaption> </figure> </div> <div class="content"> <p> </p> <p>The European Union’s tariffs on electric vehicles made in China will speed up plant closures in Europe by local automakers, the CEO of carmaker Stellantis warned on Monday.</p> <p><strong><a href="https://www.asiafinancial.com/eu-backs-large-tariffs-on-chinese-evs-but-talks-will-continue">The tariffs</a></strong> will push Chinese manufacturers to build facilities in Europe – and that would exacerbate problems related to China’s <strong><a href="https://www.asiafinancial.com/us-eu-must-act-jointly-on-chinas-industrial-overcapacity-yellen">overcapacity</a></strong>, Carlos Tavares predicted on Monday at the <strong><a href="https://mondial.paris/en">Paris Auto Show</a></strong>.</p> <p>European governments, including Italy, are trying to attract Asian automakers as companies step up their commercial presence in the region, but they are more likely to be based in Eastern Europe, he suggested.</p> <p> </p> <h3>ALSO SEE: <a href="https://www.asiafinancial.com/china-eyes-850bn-3-year-bond-issue-to-lift-slowing-economy">China Eyes $850bn 3-Year Bond Issue to Lift Slowing Economy</a></h3> <p> </p> <p>Manufacturing cars in Europe would allow Chinese companies, under certain conditions, to avoid duties on EVs being introduced by the European Union.</p> <p>Tariffs were a “good communication tool” but have side-effects, Stellantis CEO Carlos Tavares said.</p> <p>“It increases the overcapacity of the manufacturing system of Europe. The way to avoid custom duties is to build in Europe,” he added. “You are accelerating the need to shut down plants”.</p> <p>Speaking to Italian media, Tavares mentioned the case of Chinese EV giant <strong><a href="https://www.asiafinancial.com/china-ev-giant-byd-to-build-first-europe-plant-in-hungary-fas">BYD, which is building its first European assembly plant in Hungary</a></strong>.</p> <p>“Chinese carmakers will not go to Germany or France or Italy to build their cars, because they would have cost disadvantages there, starting from energy costs,” he said.</p> <p>Rome, which is at odds with Stellantis over its declining output in Italy, has said it is in talks with Asian automakers over possible manufacturing investments, including with <strong><a href="https://www.asiafinancial.com/as-eu-eyes-tariffs-european-states-chase-china-ev-factories">China’s Dongfeng and Chery Auto</a></strong>.</p> <p> </p> <h2>Xpeng: No intent to ‘overthrow’ Western rivals</h2> <p>Meanwhile, Chinese carmakers at the car show in Paris – aware of the trade tension with the EU over their highly subsidized “EV invasion” – denied wanting to “overthrow” their western rivals, according to a <strong><a href="https://archive.is/ciFel#selection-1735.0-1739.121">report by the FT</a></strong>.</p> <p>“We’re a 10-year-old company. We’re not going to overthrow anybody who’s developed over 100 years,” Xpeng co-president Brian Gu was quoted as saying, while showing off an EV with “highly advanced artificial intelligence technology.”</p> <p>Feng Xingya, general manager of state-owned carmaker GAC, also reportedly displayed a conciliatory manner, saying: “When we come to the European markets, we come with an attitude to cooperate,” he said, according to the report.</p> <p>Their remarks are not surprising, given that Stellantis, which makes Peugeot and Fiat, and other local carmakers have issued profit warnings because of declining sales, as more citizens opt for EVs.</p> <p>Some, such as Renault, have also conceded that they may “need some help” with the production of EV batteries.</p> <p>The key factor spurring this dramatic transition is, of course, the <strong><a href="https://www.theguardian.com/environment/2024/oct/15/finland-emissions-target-forests-peatlands-sinks-absorbing-carbon-aoe">increasingly bleak news</a></strong> on global warming.</p> <p> </p> <ul> <li>Reuters with additional input and editing by Jim Pollard</li> </ul> <p> </p> <h3>ALSO SEE:</h3> <h4 class="reports-big-head"><a href="https://www.asiafinancial.com/eu-rejects-chinas-proposal-for-30000-euro-minimum-ev-price">EU Rejects China’s Proposal for 30,000-Euro Minimum EV Price</a></h4> <h4 class="reports-big-head"><a href="https://www.asiafinancial.com/eu-backs-large-tariffs-on-chinese-evs-but-talks-will-continue">EU Backs Large Tariffs on Chinese EVs But Talks Will Continue</a></h4> <h4><a href="https://www.asiafinancial.com/chinese-carmakers-call-for-25-retaliatory-tariffs-on-eu-cars" target="_blank" rel="noopener">Chinese Carmakers Call For 25% Retaliatory Tariffs on EU Cars</a></h4> <h4><a href="https://www.asiafinancial.com/stellantis-ceo-calls-china-ev-tariffs-a-trap-he-may-be-right" target="_blank" rel="noopener">Stellantis CEO Calls China EV Tariffs a ‘Trap’. He May Be Right</a></h4> <h4><a href="https://www.asiafinancial.com/china-ev-firms-scaling-back-european-plans-over-subsidy-probe" target="_blank" rel="noopener">China EV Firms Scaling Back European Plans Over Subsidy Probe</a></h4> <h4><a href="https://www.asiafinancial.com/european-farmers-fear-trade-war-with-china-over-ev-tariffs" target="_blank" rel="noopener">European Farmers Fear Trade War With China Over EV Tariffs</a></h4> <h4><a href="https://www.asiafinancial.com/eu-tariff-fallout-china-warns-of-wto-suit-tesla-to-hike-prices" target="_blank" rel="noopener">EU Tariff Fallout: China Warns of WTO Suit, Tesla to Hike Prices</a></h4> <h4><a href="https://www.asiafinancial.com/chinas-byd-welcome-to-open-an-ev-factory-in-france-minister" target="_blank" rel="noopener">China’s BYD Welcome to Open an EV Factory in France: Minister</a></h4> <h4><a href="https://www.asiafinancial.com/as-eu-eyes-tariffs-european-states-chase-china-ev-factories" target="_blank" rel="noopener">As EU Eyes Tariffs, European States Chase China EV Factories</a></h4> <p> </p> <div class="tags"> </div> <div class="author-box"> <div class="profile_images"><img width="96" height="96" src="https://www.asiafinancial.com/wp-content/uploads/2023/04/JP-Feb2020--96x96.jpg" class="avatar avatar-96 photo imgauthor" alt="" loading="lazy" srcset="https://www.asiafinancial.com/wp-content/uploads/2023/04/JP-Feb2020--96x96.jpg 96w, https://www.asiafinancial.com/wp-content/uploads/2023/04/JP-Feb2020--150x150.jpg 150w, https://www.asiafinancial.com/wp-content/uploads/2023/04/JP-Feb2020--24x24.jpg 24w, https://www.asiafinancial.com/wp-content/uploads/2023/04/JP-Feb2020--48x48.jpg 48w, https://www.asiafinancial.com/wp-content/uploads/2023/04/JP-Feb2020--300x300.jpg 300w" sizes="100vw" /></div> <div class="author-content"> <h3><a href="https://www.asiafinancial.com/author/jim">Jim Pollard </a></h3> <p style="font-size: 14px;"> Jim Pollard is an Australian journalist based in Thailand since 1999. 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