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[ Thu, Apr 17th 2025 ]: BBC
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[ Thu, Apr 17th 2025 ]: Reuters
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[ Wed, Apr 16th 2025 ]: MLive
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[ Wed, Apr 16th 2025 ]: Reuters
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[ Wed, Apr 16th 2025 ]: MyNewsLA
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[ Wed, Apr 16th 2025 ]: NDTV
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[ Tue, Apr 15th 2025 ]: ThePrint
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[ Sun, Apr 13th 2025 ]: MotorTrend
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[ Fri, Apr 11th 2025 ]: Reuters
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[ Fri, Apr 11th 2025 ]: CNN
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[ Fri, Apr 11th 2025 ]: Forbes
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[ Thu, Apr 10th 2025 ]: CNN
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[ Thu, Apr 10th 2025 ]: Forbes
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[ Wed, Apr 09th 2025 ]: Forbes
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[ Wed, Apr 09th 2025 ]: Reuters
Trump does not pause 25% US auto tariffs, drawing criticism from Michigan business and auto groups

Auto suppliers Novares, Valeo demand upfront payment to cover tariff cost

Auto suppliers Novares and Valeo are requesting upfront payments from their customers to cover the costs of new European Union tariffs on Chinese electric vehicles (EVs), set to begin in July 2024. These tariffs, which could reach up to 38.1%, are prompting suppliers to seek compensation for the increased costs of components like batteries and electric motors, which are primarily sourced from China. Novares has already approached its clients, including Stellantis, about these additional costs, while Valeo is also in discussions with its customers. The situation is complicated by the fact that some automakers are considering passing these costs onto consumers, while others are looking into alternative sourcing strategies to mitigate the impact of the tariffs.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/auto-suppliers-novares-valeo-demand-upfront-payment-cover-tariff-cost-2025-04-10/ ]