Zeekr is one of the manufacturers affected by the taxes applied to Chinese electric vehicles. The Geely group’s brand is looking to establish itself in Europe to avoid them.
Since July 5, 2024, a tax has been imposed on imports of electric cars from China. When they arrive in Europe, they are subject to additional taxes. The goal is to protect European manufacturers from the ultra-competitive prices of Chinese manufacturers. The United States has done the same, causing tariff rates to soar a few weeks ago.
In Europe, the calculation of taxes is based on the subsidies received by a brand in China. In the case of Zeekr, the tax amounts to 19.9% of the original selling price of the electric vehicle.
Zeekr’s CEO and Geely’s chairman, Andy An, expressed disappointment with such a decision. He has already warned that this will slow down Zeekr’s progress in Europe.
“I personally express my regret over the introduction of these policies,” stated An. “I believe their decisions are unfair. They will have some impact on Zeekr’s international development.”
The consequence of this is clear: Zeekr will have to establish itself in Europe to avoid these taxes. An confirmed that this is an ongoing process: “We are actively pursuing localization work in Europe and will make an announcement regarding this at the appropriate time.”