Anti-subsidy Probe

“In Europe, Nio's commitment to the EV market remains unwavering, and we will continue to serve our users and explore new opportunities within Europe despite protectionism,” Nio said.

BYD will be subject to an additional tariff of 17.4 percent, Geely 20 percent and SAIC 38.1 percent. Other BEV producers that cooperated in the EU investigation but were not sampled will pay a weighted average duty of 21 percent.

The European Commission is about to notify carmakers that it will temporarily impose additional tariffs of up to 25 percent on imported Chinese EVs from next month, according to the Financial Times.

European Commission investigators will come to inspect Chinese carmakers in the coming weeks as part of an investigation into whether to impose punitive tariffs to protect Europe's EV makers, Reuters reported.

The growth of EVs is a revolution that many people don't understand, but once you share the data and the reality, they realize there is nothing to be challenged, a BYD executive said.

The investigation will be concluded within 13 months, and any provisional anti-subsidy duties can be levied within nine months after initiation if legally warranted.

The EU should create a fair, non-discriminatory and predictable market environment for the joint development of the EV industry in China and Europe and jointly oppose trade protectionism, China's Ministry of Commerce said.

Chinese EV manufacturers and their partners have continued to push the boundaries of innovation, resulting in a substantial industrial edge, and this advantage is not a product of state subsidies, a statement said.

Analysts don't think the EU's allegations of low prices for Chinese EVs are valid, and there is no unity of opinion within the bloc.

Global markets are now flooded with cheaper Chinese EVs and their price is kept artificially low by huge state subsidies, European Commission President Ursula von der Leyen said.