Business · Trade · 41 mins ago

EU plans annual 350,000-vehicle limit for hybrid imports

EU plans annual 350,000-vehicle limit for hybrid imports

The European Union has agreed on a four-year measure to limit imports of hybrid cars, setting a first-year cap of 350,000 vehicles.

The measure is aimed at curbing a rapid rise in Chinese-made hybrids sold in Europe.

Chinese carmakers have expanded hybrid sales while fully electric cars made in China face additional EU tariffs.

One account says the limit will cover hybrids made in China, while another says it will apply to imports from all countries under trade rules.

Both accounts say China’s quota cannot be lower than that of any other exporting country.

The cap is set to rise by 6% a year after the first year, and the measure could begin on December 1.

The EU and China will continue discussions, including on Chinese export restrictions for rare earths and permanent magnets.

Sources

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