Following a comparison by the EU into the prices charged by Chinese electric bike manufacturers compared to those charged by Swiss companies, the EU has imposed crippling new anti-dumping import taxes on electric bikes imported from China.
The provisional tax, which was introduced at 24 hours notice on 18th July 2018 and has to be paid on all bikes imported after that date, is due to be ratified by the EU on or around 20th January 2019. The tax rate to be charged is generally between 37.5% and 89% and covers electric bike parts as well as completed bikes. This new tax is in addition to the 6% import duty that has previously been charged. If confirmed, the tax will last for a period of 5 years.
There has been a rush to find alternative sources of manufacture, but most are expecting price rises of 15 – 30%, in part because Chinese manufactured parts will have to be transported to a third country for the assembly process. Electric bikes manufactured in China will probably become completely uncompetitive.
If we “crash out of Brexit” it is understood that the tax will disappear.
Axcess – Keeping Exeter, the surrounding Devon area and the rest of the UK moving with our superb range of electric bikes. If you would like more information or to purchase your very own folding electric bike, mountain e-bike or electric road bike, contact our helpful and advisable team or pop in to see us at our Honiton shop, today!