Tesla has increased the price of its Model 3 cars in European countries like Germany, the Netherlands, and Spain by about €1,500 ($1,622). According to Reuters, this move follows the European Union's (EU) decision to impose tariffs on electric vehicles (EVs) manufactured in China.
Tesla Increases Model 3 Prices in Europe
Tesla, which produces the Model 3 in Shanghai and leads in exporting EVs from China, had cautioned about potential price hikes due to the new tariffs imposed on July 4 by the European Commission.
The Commission introduced these tariffs to counter what it sees as a flood of unfairly subsidized EVs from China, a claim Beijing denies. The provisional tariffs, which could go up to 37.6% based on the carmaker, will remain until the Commission decides on final duties by November.
Tesla Receives 20.8% Tariff
Tesla, classified as cooperating with the EU investigation, received a 20.8% tariff but has requested a recalculation. Similarly, BMW has asked for a reduction in tariffs for its China-made electric Mini, which currently faces the highest duty, to 20.8%.
Join the Conversation