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Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
Shares Issued 17,550,000
Close 2024-11-22 C$ 32.11
Market Cap C$ 563,530,500
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Globe/wire say Tesla told EU, Beijing close to EV deal

2024-11-25 09:12 ET - In the News

The Globe and Mail reports in its Saturday edition that Brussels and Beijing are nearing a solution over tariffs on Chinese electric-vehicle imports into the bloc, the chair of the trade committee of the European Parliament told a German broadcaster. A Reuters dispatch to The Globe quotes Bernd Lange telling n-tv, "We are close to an agreement: China could commit to offering e-cars in the EU at a minimum price. This would eliminate the distortion of competition through unfair subsidies, which is why the tariffs were originally introduced." Mr. Lange did not elaborate. The European Union last month decided to increase tariffs on Chinese-built electric vehicles to as much as 45.3 per cent in its highest-profile trade investigation, a move that has divided Europe and triggered retaliation from Beijing. The tariffs, which became effective on Oct. 30, were imposed to counter what it says are unfair subsidies including preferential financing and grants as well as land, batteries and raw materials at below market prices. Despite the tariffs coming into force, both sides have continued negotiations to find a solution.

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