BMW's China-made electric Mini to receive lower 21.3% tariff
FILE PHOTO: A woman stands near the Mini Electric in Bangkok, Thailand July 14, 2020. REUTERS/Jorge Silva/File Photo
BERLIN (Reuters) - BMW said that its joint venture in China which produces the electric Mini was classed as a "cooperating company" in the EU's latest draft tariff document on duties for China-made EVs, qualifying it for a lower duty of 21.3%.
"It is logical that Spotlight Automotive Ltd. (our joint venture with Great Wall Motors in China for the production of fully electric MINI cars) was brought into the circle of cooperating companies," the carmaker said in a statement.
The Mini was not part of Brussels' sample analysis in the run-up to the tariff announcement, which meant they were initially automatically subjected to the highest tariff level of 37.6%.
(Reporting by Victoria Waldersee, editing by Andrey Sychev)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cooling inflation strengthens bets on another Brazil rate cut
- Sweden's fractured left holds narrow poll lead ahead of Sunday election
- BlackRock private credit fund redemption requests fall in third quarter
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!



Tweet
Share