Latest Overseas Information Express About EV Industry (2024.08.05)

[Government Dynamics]

1. EU Adjusts Tariff Rates on Chinese Electric Vehicles According to the latest report from Bloomberg, following a series of delicate diplomatic and trade negotiations, China and the European Union have reached a preliminary adjustment on electric vehicle tariffs. Specifically, the EU has slightly relaxed tariff sanctions on two major Chinese automakers—SAIC Motor and Geely. The tariff rates have been adjusted from their original levels of 38.1% and 20% to 37.6% and 19.9% respectively, marking reductions of 0.5% and 0.1%. Source: Bloomberg
2. Canada Announces Commencement of Negotiations to Consider Increasing Import Tariffs on Chinese Electric Vehicles. On June 24th, Deputy Prime Minister and Minister of Finance Chrystia Freeland announced that Canada will conduct a 30-day consultation starting from July 2nd regarding Chinese-produced electric vehicles. The aim is to explore potential policy responses to protect Canadian automotive workers and the growing electric vehicle industry from unfair trade practices. This includes preventing trade diversion to markets that have recently announced strengthened protections against Chinese electric vehicle trade, including the United States and the EU. The 30-day public consultation period marks Canada’s initial step towards imposing tariffs on Chinese electric vehicles. The consultation will seek feedback on potential policy responses, including additional duties under section 53 of the Customs Act, adjustments to the federal Zero Emission Vehicle (iZEV) incentive program, and possible additional measures such as investment restrictions. Source: Government of Canada
3. Italian Government Announces Contracts Worth €1.7 Billion for Net Zero Emissions, Renewable Energy, and Battery-related Developments On June 19th, the Italian Ministry of Industry and MIMIT issued a decree regulating the acquisition of contracts related to net zero emissions, renewable energy, and battery developments, valued at over €1.7 billion. Of this amount, at least €308.6 million will be allocated to photovoltaic and wind power technology projects, and over €205.1 million to battery-related development projects. These initiatives aim to implement industrial development and development projects that protect the environment, including research, development, and innovation projects in battery manufacturing, solar panel production, wind turbines, and the production of key components mandated by law, as well as projects for recycling critical raw materials. Source: Official website of Italian enterprises and the Italian Ministry of Industry
4. Brazilian Chamber of Deputies Approves New Automotive Industry Policy “Mover” Plan Over the next five years, starting from June 11th, the Brazilian Chamber of Deputies approved the new automotive industry policy “Mover” plan. This plan will provide 19.3 billion reais (approximately 25.5 billion RMB or 255 billion Yuan) in incentives and tax reductions for industrial products, aiming to invest in the production of vehicles with reduced greenhouse gas emissions and the development of technological solutions. Source: China International Trade Promotion Committee Representative Office in Brazil
5. Thailand Board of Investment Approves Investment Promotion Measures for Automotive Component Manufacturers and Waste Power Battery Recycling Business On June 14th, the Board of Investment (BOI) of Thailand, chaired by Deputy Prime Minister and Minister of Finance Pichai Chunhavajira, approved new investment incentive measures. These measures focus on services centers for repairing, repackaging, and reusing waste power batteries and energy storage systems (ESS). They further strengthen the BOI’s comprehensive electric vehicle supply chain measures and incentive mechanisms. Additionally, new incentive measures targeting automotive component manufacturers were approved to invest in upgrading their technological capabilities and enhancing productivity. Source: BOI Official Website
6. South Korea Investigates Partial Imports of Japanese Cars On June 20th, the South Korean government announced an investigation into certain imported cars produced by Japanese manufacturers Toyota and Yamaha. The investigation stems from improper certification tests conducted domestically in Japan. The Ministry of Land, Infrastructure and Transport of South Korea stated that it is currently investigating whether the 38 Japanese car models involved in the false certification tests in Japan are being sold in South Korea. Source: South Korean Government
7. Bureau of Indian Standards Introduces Two New Electric Vehicle Standards On June 23rd, the Bureau of Indian Standards (BIS) under the Ministry of Consumer Affairs, Food and Public Distribution launched two new standards: IS 18590: 2024 and IS 18606: 2024. These standards aim to enhance the safety of electric vehicles (EVs) in the motorcycle (L), car (M), and truck (N) segments. They focus on the safety and performance of electric vehicle powertrains and batteries, ensuring they meet stringent safety requirements and provide robust and safe power output. BIS also introduced safety standards specifically for E-rickshaws and E-Karts under IS 18294: 2023. These standards cover various aspects from structure to functionality to ensure the safety of drivers and passengers. With the addition of these new standards, India now has a total of 30 standards specifically for electric vehicles and their components (including charging systems). Source: PIB India
8. European Automobile Manufacturers’ Association (ACEA) Collaborates with ChargeUp Europe to Build Electric Vehicle Ecosystem On June 13th, ACEA and ChargeUp Europe, the European electric vehicle charging industry association, signed a joint statement to support the establishment of an electric vehicle ecosystem. They aim to rapidly deploy electric vehicle charging infrastructure plans and develop energy management solutions such as Vehicle-to-Grid (V2G) and Vehicle-to-Grid (V2G) to ensure effective implementation of private and garage charging rights for fair access to electric vehicle charging for all drivers and full integration with building environments. Source: ACEA Official Website