Tesla’s activities in Europe got a profitability boost today after the European Union announced revisions to the tariffs it began imposing in July on EVs arriving on the continent from China.
The EU’s initial report called for a 20.8 percent tariff on imported China-built Teslas, but that rate has now been reduced to just 9 percent on appeal. The American automaker had asked for a recalculation following the publication of the July report, and after ascertaining that Tesla received less state aid than some other firms building cars in China, the EU agreed to reduce Tesla’s tariff.
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