国泰海通｜汽车：中欧电动汽车反补贴案取得阶段性进展

Core Viewpoint - The article discusses the significant framework consensus reached between China and the EU regarding the anti-subsidy case against Chinese electric vehicles, transitioning from high tariffs to a constructive "minimum price commitment" mechanism [1][2]. Group 1: Framework Consensus - On January 12, 2026, the Chinese Ministry of Commerce announced that China and the EU have reached an important framework consensus to replace high tariffs with a minimum price commitment mechanism [1]. - The EU had previously imposed anti-subsidy taxes on Chinese electric vehicles, with rates reaching up to 35.3%, significantly impacting the profitability and competitiveness of Chinese automakers in the European market [1]. - The consensus was reached after ongoing negotiations since October 2023, with the EU officially imposing anti-subsidy taxes in April 2024 [1]. Group 2: Price Commitment Mechanism - The EU will issue guidelines for submitting price commitment applications, allowing eligible Chinese electric vehicle companies to replace anti-subsidy taxes with price commitments [2]. - This arrangement reflects the willingness of both parties to resolve differences through dialogue within the framework of multilateral trade rules, contributing to the stability of the automotive industry and supply chain [2]. - The implementation of the price commitment mechanism is expected to alleviate the tariff pressure on Chinese electric vehicle exports to Europe, potentially lowering overall export costs and improving profit margins [2]. Group 3: Investment Recommendations - The article recommends investing in Chinese electric vehicle companies that have established a solid presence in the European market, with strong channels and product foundations [3].