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SAIC Motor logo is seen in this illustration taken January 16, 2024. Dado Ruvic/Illustration/
SAIC Motor logo is seen in this illustration taken January 16, 2024. Dado Ruvic/Illustration/
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China's SAIC to file lawsuit countering EU's ruling on EVs

October 30th, 2024 | 08:31 AM BUSINESS Autos & Transportation 1

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By Reuters

China's SAIC Motor (600104.SS) said it intends to file a lawsuit at the European Union's Court of Justice to protect its rights and interests after the EU ruled to hike tariffs on Chinese-built electric vehicles to as much as 45.3%.

The automaker said the European Commission's countervailing investigation was "wrong in determining subsidies" and had "inflated subsidy rates" by ignoring key information and the firm's counter arguments.

It also said it is taking measures to adapt to the trade barriers and will ramp up efforts to bring new models with various types of powertrain to Europe.

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  • SAIC/EU (URGENT)
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Previous article Samsung hikes chipmaking prices by up to 15% on demand spike, sources say

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