They imposed a 48.1% on SAIC because it could only be 48.1% at most, and SAIC MG was targeted for being the first in export sales in a row. In recent years, China's independent auto brands have emerged in the international market, especially SAIC, which has achieved remarkable results by virtue of its unique technical advantages and product strength. In 2023, SAIC Motor's first global car, the MG4 EV, will become the top seller of new energy vehicles in China, with sales exceeding the 100,000 mark, with Europe as the main export destination.
However, just as SAIC Motor is enjoying the joy of being the first in export sales in a row, the EU announced that it will impose temporary tariffs on China's new energy vehicles from July 4, 2024, involving the additional tariffs imposed on the SAIC MG brand to 38.1%, and the total tariff ratio is as high as an astonishing 48.1%. In this regard, SAIC Motor expressed its deep disappointment and called on the EU to listen carefully to the voices of Chinese and German auto companies, resolutely avoid artificially setting up trade barriers for new energy vehicles, and effectively maintain a fair and competitive market environment.
SAIC's development is inseparable from its core technology, engine technology with a maximum thermal efficiency of 48.1%. The realization of this technology marks that SAIC Motor occupies a favorable position in the technological competition of the global automotive industry, and also provides consumers with more economical driving options.
It is worth mentioning that as an important brand of SAIC, Roewe has also made breakthroughs in technological innovation. In May this year, Roewe joined hands with Xinhua News Agency to release the DMH super hybrid, which has three major characteristics: modularization, integration, and exclusivity, and has the industry's first "energy domain" global thermal management, powertrain brain PICU, engine + P1 motor coaxial structure and other leading technologies. The launch of the Roewe D5X DMH further reflects the technical strength of SAIC Roewe.
To sum up, although the EU's high tax policy has brought certain challenges to SAIC, it also reflects its recognition of SAIC's product competitiveness and advanced technology. SAIC's success shows the growing influence and competitiveness of China's auto industry in the world. Facing the future, SAIC firmly believes that only technological innovation can lead the enterprise to globalization and futurization.