Help decriminalise laws, push EVs: Piyush Goyal to India Inc

European Union Announces Higher Tariffs on Chinese EVs

European Union Announces , Higher Tariffs on Chinese EVs. On June 12, the EU said it will impose higher tariffs on imports of Chinese electric vehicles (EVs), CNBC reports. . The increase in tariffs is the result of a probe launched by the EU in October. According to the EU, the Chinese imports benefit "heavily from unfair subsidies" and threaten "economic injury" to European EV producers. The influx of subsidized Chinese imports at artificially low prices therefore presents a threat of clearly foreseeable and imminent injury to EU industry, European Commission, via statement. A 38.1% tariff will be imposed on battery electric vehicle producers who refused to cooperate with the bloc's investigation. A 21% tariff will be implemented for carmakers in China who complied but have yet to be "sampled.". On June 11, a spokesperson for China's Ministry of Commerce called the higher tariffs a "protectionist act.". The findings disclosed in the EU ruling lack factual and legal basis, Spokesperson for China's Ministry of Commerce, via statement. This is a naked protectionist act, creating and escalating trade frictions, and 'destroying fair competition' in the name of 'maintaining fair competition.' , Spokesperson for China's Ministry of Commerce, via statement. This move by the EU not only damages the legitimate rights and interests of China’s electric vehicle industry, but will also disrupt and distort the global automotive industry chain supply chain, including the EU, Spokesperson for China's Ministry of Commerce, via statement

Trump Promises to Stop All Electric Car Sales

Trump Promises to Stop , All Electric Car Sales. In an effort to be reelected as President of the Unites States. Trump is promising oil and gas execs that he'll keep electric vehicles (EVs) from being sold in the U.S. if they make significant donations to his campaign, Gizmodo reports. . Trump said that he'd lower tailpipe emissions targets and cut EV tax credits, among other things. . "You won't be able to sell those cars," Trump said. However, the EV market continues to grow, with at least 1.5 million units expected to sell in 2024. If Trump squashes EV sales in the U.S., it could anger some Republicans since the market has provided more jobs and investments in the South. For example, Hyundai is investing $13 billion in Georgia, a state Trump lost in 2020, to produce electric vehicles. Meanwhile, analysts predict EV sales will continue to rise despite Trump's efforts. Although, his tactics could prove to slow those sales dramatically. . Ford Motor executive chair William Clay Ford Jr. weighed in on Trump's promises. Our time frame as a company, our planning time frame, is a lot longer than election cycles, William Clay Ford Jr., via statement. When we’re whipsawed back and forth by politicians that becomes really difficult for us, William Clay Ford Jr., via statement