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Chinese cars are beating European tariffs

• andsoitis 11mo ago
  > On top of the bloc’s existing 10% import duty, byd (China’s biggest producer of evs) faced an additional 17%, Geely-owned brands 18.8% and saic 35.3%. Geely has subsidiaries / joint ventures with automakers like Volvo, Polestar, Proton, Smart, Lotus, Renault, etc. Lin Shufu, Geely’s founder and chairman bought just shy of 10% of Mercedes Benz in 2018, making him the second biggest individual shareholder in the German carmaker. The #1 spot is occupied by The Beijing Automotive Industry Holding Co. (BAIC), via its state-owned parent. https://en.wikipedia.org/wiki/Geely https://en.wikipedia.org/wiki/Geely