July 11, 2024 – Hungarian Minister of Economic Development, Naji Maton, announced at a press conference in Budapest on July 10th that Hungary has submitted a proposal to the European Union’s Competitiveness Council. The proposal outlines a comprehensive set of measures aimed at accelerating the European Union’s transition to electric vehicles.
Maton emphasized the need for the EU to coordinate varying electric vehicle strategies among its member states. He further suggested the establishment of charging stations every 50 kilometers and the installation of charging devices at 80% of gas stations. Additionally, he proposed a subsidy of 4500 euros for every EU citizen purchasing an electric vehicle.
According to Maton, the EU should alleviate regulatory pressures to enhance competitiveness and prioritize technology-neutral procedures and circular economics during the green transition. He also highlighted that the electrification process is pivotal to European industrial competitiveness, prompting Hungary to propose the development of an electric vehicle law to the EU.
Regarding the imposition of temporary countervailing tariffs on Chinese electric vehicles, Maton expressed Hungary’s opposition to the EU’s protectionist and market restriction measures. He warned that such actions could lead to a trade war, which would not benefit any party.
Previous reports indicate that based on the EU’s “countervailing investigation,” SAIC Group has been levied a 37.6% tariff, while Geely and BYD face tariffs of 19.9% and 17.4%, respectively. Other Chinese electric vehicle manufacturers that cooperated with the investigation but were not selected for inspection will be subject to a weighted average tariff of 20.8%, and those who did not cooperate will incur an additional 37.6% tax.
