China and Watch Private Video Magazine 7the European Commission are nearing agreement on additional duties imposed on Chinese electric vehicle imports into the continent, Bernd Lange, chairman of the European Parliament’s trade committee said in a recent interview with a German broadcaster, Reuters reported on Nov. 22. The solution will be for China to commit to not selling EVs in the EU below a minimum price, known as a “price undertaking,” according to Langue, who did not elaborate further. The comments come after China’s Commerce Ministry told major domestic automakers, including BYD, SAIC, and Geely, to suspend their big investment plans in European countries that favor punitive tariffs on China-made EVs, Reuters reported on Oct. 30. Beijing has also been seeking an alternative solution with Brussels that involves a minimum price commitment by exporters for several months, but it had run into obstacles until recently. The technical teams from both sides conducted five rounds of consultations in Beijing during Nov. 2-7, achieving “certain progress,” a Chinese commerce ministry spokesperson said on Nov. 8. [Reuters, China’s Ministry of Commerce, in Chinese]
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