The European Union backed tariffs of up to 45% on imported Chinese electric vehicles (EVs) on Friday as it looks to counter Beijing's subsidies for automakers now targeting Europe. Here is political a

The European Union unleashed one of its most powerful economic tools on China, imposing tariffs on electric vehicles in a move that increases the risk of retaliatory measures and backfiring on domestic consumers and companies.

Brian Gu, Xpeng’s co-president, argued Wednesday that fierce local competition, not state support, explains China’s EV success.

The European Union has got its electric vehicle tariffs through. On Friday, member states voted for levies on battery cars imported from the Middle Kingdom. Given big EU hitters like Germany opposed the move,

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

Ten member states voted in favor of the measure, while Germany and four others voted against and 12 abstained, according to reports.

The European Commission said on Friday it had received enough support in a vote of EU members to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc's highest profile trade case,

If EU tariffs are approved, Xpeng will be slapped with an additional 21.3% surtax. The brand also sees the US as an important market but can’t launch locally, at least not yet. Xpeng is open to contract manufacturing in Europe.

Options include contract manufacturing, tapping existing factories or a new assembly plant, top company official says.