Tesla (TSLA) said Thursday it expects to raise prices for its Model 3 in Europe after regulators there threatened to put n🙈ew tariffs on imports of electri♋c vehicles (EVs) made in China because of that country’s subsidies for its industry. 

The company reportedly posted on its European websites that it was “anticipating a requirement for us to increase pricing for Model 3 vehicles” as of July 1, because of “additional import duties likely to be imposed on electric vehicles manufactured in China and sold in the EU."

European Tariffs To Start 🧜July 🥀4 If Negotiations With Beijing Not Resolved

On Wednesday, the European Commission, the regulatory arm of the EU, warned that it would slap the new duties on Chinese-made EVs starting July 4 if negotiations with Beijing failed to bring a resolution to its accusation that China’s support of its EVs was a threat to EU EV manufacturers. Officials said the duties could be as high as 38.1%. 

The Commission noted that "following a substantiated request," Tesla, which produces EVs in China, “may receive an individually calculated duty rate at the definitive stage.” 

Tesla reportedly didn’t indicate the size of the expected price increase. It advised those interested in purchasing a Model 3 to place their orders in June before the potential EU penalti🃏es take eඣffect. 

Separately, 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Elon Musk 澳洲幸运5官方开奖结果体彩网:announced on X Wednesday night that indications are shareholders will easily approve his controversial $55.8 billion pay package at the company's annual meeting Thursday, and that sent Tesla shares about 4% higher to $183.83 as of 10:33 a.m. ET.