Global site navigation

Local editions

US tariffs on Chinese EVs hurt green transition: XPeng boss
Economy

US tariffs on Chinese EVs hurt green transition: XPeng boss

by  AFP 2 min read
An Xpeng AeroHT X2 Flying Car on display in Hong Kong at the launch of Xpeng vehicles into the city for the first time
An Xpeng AeroHT X2 Flying Car on display in Hong Kong at the launch of Xpeng vehicles into the city for the first time. Photo: Peter PARKS / AFP
Source: AFP

PAY ATTENTION: The 2024 Business Leaders Awards Present Entrepreneurs that Change Nigeria for the Better. Check out their Stories!

The president of Chinese electric vehicle maker XPeng on Friday criticised the fresh tariffs on Chinese cars imposed by Washington as "unfavourable" for the United States' energy transition.

US President Joe Biden announced earlier this week the quadrupling of customs duties on Chinese electric cars to 100 percent, which China slammed as politicising an economic issue and a breach of World Trade Organisation rules.

XPeng president and vice-chairman Brian Gu said at an event in Hong Kong on Friday that the levies will lead to "higher costs and slower product iteration", hampering the US's green energy ambitions.

"For an auto market as important and large as the US, they would want to have carbon-neutral, green energy transition," Gu told reporters. "The tariffs are unfavourable to its own climate and energy transition."

Read also

EU warns Microsoft to give risk data on Bing AI or face fines

"I hope one day it can become more open, so that products all over the world can compete there."

XPeng - which sold more than 140,000 cars last year - is not directly impacted by the tariffs as it does not sell in the US, he added.

PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed!

Gu's comments came a day after XPeng announced its launch in France and Germany, with plans to expand to the United Kingdom, Spain and Italy before the end of 2024.

Asked if he was concerned that the European Union will mirror American tariffs, Gu told AFP that XPeng would press ahead with its global strategy and not be limited as a China-only EV manufacturer.

Europe's anti-subsidy investigation into Chinese EVs had "gone on for some time" but there is "nothing conclusive", he said.

Read also

Rapidus 'last opportunity' to put Japan back on global chip map

Founded in 2014, the Guangzhou-headquartered EV manufacturer said on Thursday it will market its premium SUV models in France, with prices starting at $65,200.

The company's senior product planning expert Alan Ma, said XPeng plans to introduce smaller SUVs to the French market in future.

"In France, we can see that smaller cars are more popular... We will fully consider the needs of the French market and bring in smaller models to suit French buyers," Ma told AFP.

PAY ATTENTION: Donate to Legit Charity on Patreon. Your support matters!

Source: AFP

Authors:
AFP avatar

AFP AFP text, photo, graphic, audio or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP news material may not be stored in whole or in part in a computer or otherwise except for personal and non-commercial use. AFP will not be held liable for any delays, inaccuracies, errors or omissions in any AFP news material or in transmission or delivery of all or any part thereof or for any damages whatsoever. As a newswire service, AFP does not obtain releases from subjects, individuals, groups or entities contained in its photographs, videos, graphics or quoted in its texts. Further, no clearance is obtained from the owners of any trademarks or copyrighted materials whose marks and materials are included in AFP material. Therefore you will be solely responsible for obtaining any and all necessary releases from whatever individuals and/or entities necessary for any uses of AFP material.

Hot: