((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(Added details on Tesla’s planned customs duties to paragraph 5)
Tesla TSLA.O expects to raise the price of its Model 3 due to European Union import duties on electric vehicles (EVs) made in China, the automaker said on its website on Thursday.
The message, posted on Tesla’s website for countries including Germany, France, Ireland, Belgium and Hungary, invites potential buyers to place their orders in June. The message did not specify the magnitude of the planned price increase.
“We anticipate the need to increase the price of Model 3 vehicles starting July 1, 2024,” it is stated. “This is due to additional import duties that may be imposed on electric vehicles manufactured in China and sold in the EU.”
The European Commission said on Wednesday it would impose additional duties of up to 38.1% on imported electric cars made in China from July, prompting Beijing to warn it would take steps to safeguard Chinese interests.
Tesla, which exports Model 3 cars from Shanghai to Europe, was one of several companies that the European Commission said had cooperated with its investigation and would therefore be subject to lower tariffs of 21%.
The Commission added that Tesla could receive an individually calculated duty rate on its Chinese-made EVs when final duties are imposed in November.
