EU Tariff Relief? BYD, Xpeng Shares Jump on Plan to Swap Chinese EV Duties for Minimum Prices
Shares of BYD rose up to 4.8% in Hong Kong and Xpeng gained 5.3% after the European Commission signaled it may swap tariffs on China-made EVs for a minimum-price scheme. SAIC Motor climbed as much as 3.6% in Shanghai. The EU is negotiating with Beijing on alternatives to tariffs of up to 35.3% on battery electric vehicles.