Canada has hit Chinese electric vehicle manufacturers with a 100 per cent surtax to counter their “unfair advantage” to Canada’s industry.
It’s not yet clear what Canada’s decision to slap a 100 per cent surtax on Chinese-made electric vehicles does for Tesla, the top-selling EV car brand in Canada.
“The reality is China has an intentional state-directed policy of overcapacity and oversupply designed to cripple our own industries,” said Finance Minister Chrystia Freeland as the policy was announced. Tesla did not respond to a Postmedia inquiry, but Antweiler said: “My sense is that this will not be a capacity problem, but they may need to raise prices to cover the higher cost of producing in the U.S. compared to China.”
Freeland was more pointed in accusing China of achieving its advantage through “abysmal” environmental and labour standards. BYD’s ambitions included a two-pronged approach: sales through retail dealerships in Canada and a partnership with the ride-hailing service Uber. The Uber deal could put 100,000 BYD vehicles into service in key markets including in Europe, Canada, the Middle East and Australia.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Optical Illusion Swimsuit Leaves Chinese Olympian Tang Qianting’s Waist Looking “Snatched”Chinese swimmer Tang Qianting’s “snatched” waist at the 2024 Paris Olympic Games baffled viewers.
Read more »
EU officials to cut tariffs on Tesla, Chinese EV makersEuropean Union (EU) regulators are reducing proposed tariffs on Tesla (TSLA) electric vehicles built in and imported from China, among other Chinese EV...
Read more »
Tesla to get lower EU tariff on its Chinese-made EVsThe revisions are part of draft findings issued by the European Commission in the highest profile EU investigation of alleged Chinese subsidies
Read more »
Canada Pension looking to sell Spanish distressed debt portfolioCanada Pension Plan Investment Board has put a portfolio of distressed Spanish loans up for sale, as the fund works to reduce its exposure to the country built up during the financial crisis last decade.
Read more »
Paris 2024: Canada looking to set new Olympic medal markCanada will head into the final two days of competition of the Paris Olympics with a chance to make history.
Read more »
Canada looking to cement its status as a throwing powerhouse at Paris OlympicsEthan Katzberg, from Nanaimo, B.C. competes in the hammer throw at the Canadian Track and Field Olympic trials in Montreal, Wednesday, June 26, 2024. THE CANADIAN PRESS/Christinne Muschi
Read more »