Norway will not follow the EU in regards to tariffs on Chinese electric cars. This was announced by the Norwegian Finance Minister Trygve Slagsvold Vedum and he underlined, that tariffs would be neither relevant nor desirable for the Norwegian government.
Norway has the highest density of electric vehicles worldwide and more than 80 percent of the cars sold in Norway in 2022 were EVs. More than 12 percent of the EVs, that are imported into Norway are made in China.
The Norwegian statement follows the European Commission announcement yesterday, which stated that 25 percent tariffs would be applied to Chinese EVs in Europe. This would potentially lead to multi-billion Euro earnings. The European Commission says, that the aim is to prevent unfair competition and market distortion as Chinese car manufacturers are largely supported by the Chinese state.
Some European carmakers have criticized the decision as China has threatened EV with a similar tariff on the import of European cars with large engines, which could hurt the businesses of Porsche, Mercedes, BMW and others.
Source: Bloomberg
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