MG considers opening electric vehicle factory in Spain to avoid EU tariffs
July 17, 2024
Chinese automaker MG is reportedly considering opening a production plant in Spain, in response to European Union tariffs.
According to Spanish newspaper Europa Press, the SAIC-owned brand is considering building its first battery-electric vehicle factory in the Galicia region to sell tariff-free in European markets.
Its sources claim that the company is considering confirming a decision by the end of September, with the expectation of commencing car production in the fourth quarter of 2027.
The report states that the company is also considering other countries for the plant, such as Hungary or the Czech Republic, due to labour costs and support from regional authorities.
Currently, products owned by SAIC may be subjected to the highest EU rate of 37.6%, in addition to the existing 10% tariff, if the EU Parliament approves the European Commission’s recommendations within the next four months.
