BMW said in a statement that EU duties on battery electric vehicles “harm business models of globally active companies.”
According to slides released on BMW's website, the automaker anticipates its full-year margin to be in the lower half of its 6-7% target
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The European automotive industry faces rising tensions as BMW and Tesla Shanghai file lawsuits against the European Commission
BMW has joined Chinese producers in filing a challenge at the Court of Justice of the European Union (CJEU) against EU tariffs on China-made electric vehicles (EVs), according to a filing on the court's website.
Elon Musk's Tesla and German auto giant BMW have challenged EU import tariffs on China-made electric vehicles at the bloc's top court, the European Commission said Monday.
Tesla and Germany’s BMW are suing the European Commission, joining a growing band of Chinese automakers to oppose the European Union on its punitive tariffs on electric vehicles.
Tesla and BMW sue EU over tariffs on electric vehicles from China, joining Chinese automakers that filed claims. Read more.
BMW and Tesla have both filed cases with the EU's Court of Justice challenging the EU’s recent decision to hike tariffs on Chinese-made BEVs.
The EU imposed extra tariffs of up to 35% on Chinese-manufactured EVs in October after an anti-subsidy investigation found Chinese state support was unfairly undercutting European automakers.
EU talks to relaunch Europe's embattled car industry are to get underway on Thursday, with automotive CEOs awaited in Brussels to discuss fines and competition from China.The car industry in particular has been plunged into crisis by high manufacturing costs,