Auto stocks collectively fell, as of press time, Brilliance Chi (01114) fell 3.76%, at HKD 3.84; Xpeng (09868) fell 3.63%, at HKD 26.55; Dongfeng Group (00489) fell 2.39%, at HKD 2.04.
According to Zhong Tong Finance APP, auto stocks collectively fell, as of press time, Brilliance Chi (01114) fell 3.76%, at HKD 3.84; Xpeng (09868) fell 3.63%, at HKD 26.55; Dongfeng Group (00489) fell 2.39%, at HKD 2.04; Li Auto (02015) fell 2.27%, at HKD 79.6.
On the news front, according to CCTV News, on August 20th, local time, the European Commission disclosed the draft decision on imposing final anti-subsidy taxes on pure electric vehicles imported from China. The European Commission made slight adjustments to the proposed tax rates, with BYD at 17.0%, Geely at 19.3%, SAIC Motor Corporation at 36.3%, other cooperative companies at 21.3%, and all other non-cooperative companies at 36.3%. The European Commission also decided to implement a separate tariff rate for Tesla as a Chinese exporter, currently set at 9%.
It is worth mentioning that, before the temporary tariffs were imposed, the registration of Chinese electric vehicles in Europe reached a new high. According to Observer Network citing foreign media reports, in June of this year, the registration of Chinese EV brands in the European market reached a record high, with a market share of up to 11%; the newly registered pure electric vehicles exceeded 0.023 million units, a 72% month-on-month increase compared to May.