The biggest winner in the EU's tariffs against Chinese carmakers are Chinese carmakers

Video: The biggest winner in the EU's tariffs against Chinese carmakers are Chinese carmakers: BYD, a Chinese carmaker & others sees their stock prices went up. 歐盟對中國汽車製造商徵收關稅的最大贏家是中國汽車製造商：比亞迪等中國汽車製造商的股價上漲.

After the European Union imposed high tariffs on electric vehicles imported from China, the shares of BYD ripped higher. Also moving higher were shares of Geely and Nio. BYD, Geely, and Nio are Chinese car brands that were specifically targeted by the EU tariffs, along with SAIC, a mostly state-owned enterprise.

European automakers with manufacturing operations in China opposed these tariffs from the very beginning. This is because structure of the tariffs means that it will be, ironically, European automakers with Chinese factories that will suffer the most. The manufacturing costs of these joint venture (JV) companies are much lower than in comparable European factories, yet are still substantially higher than for Chinese brands that are not JV's.

BYD will enjoy strong pricing power even after the tariffs for their Chinese all-electric cars, and for their plug-in hybrid models and vehicles built in East European factories, they won't face tariffs at all. Geely and Nio are also better off than their European competitors in the EV space, but their higher tariffs rates will squeeze profit margins.

歐盟對中國進口電動車徵收高額關稅後，比亞迪股價大幅上漲。 吉利和蔚來的股價也走高。 比亞迪、吉利和蔚來是歐盟關稅特別針對的中國汽車品牌，上汽集團也是主要國營企業。

在中國設有製造業的歐洲汽車製造商從一開始就反對這些關稅。 諷刺的是，這是因為關稅結構意味著在中國設有工廠的歐洲汽車製造商將遭受最大的損失。 這些合資企業的製造成本遠低於歐洲同類工廠，但仍遠高於非合資企業的中國品牌。

即使在對中國純電動車徵收關稅後，比亞迪仍將享有強大的定價權，而其插電式混合動力車型和在東歐工廠生產的車輛則根本不會面臨關稅。 吉利和蔚來在電動車領域也比歐洲競爭對手更好，但較高的關稅稅率將擠壓利潤率.