Geely will begin shipping Lotus-branded electric vehicles (EVs) to Canada next month under a new bilateral trade deal with China. <\/p>\n
China’s ambassador to Canada, Wang Di, confirmed the shipment to Reuters, describing it as the first delivery of Chinese-manufactured cars under an arrangement permitting up to 49,000 Chinese EVs annually into the country at reduced tariff rates. <\/p>\n
“Geely EVs will be arriving in Canada next month and they will be holding a ceremony when the cars are delivered in Montreal”, Wang said. <\/p>\n
Other Chinese manufacturers, including Chery and BYD, are still working through Canadian regulatory requirements. <\/p>\n
BYD executive vice president Stella Li has indicated the company is unlikely to begin sales before next year. <\/p>\n
US-based Tesla has separately been importing China-assembled vehicles into Canada through pre-existing arrangements. <\/p>\n
Wang expressed hope that rival Chinese brands would follow soon. <\/p>\n
“I hope in autumn this year, the truly, genuinely other Chinese brand EVs will complete the procedures and get into the Canadian market”, he said. <\/p>\n
The EV agreement forms part of a broader trade realignment as Canada moves to reduce its economic dependence on the US. <\/p>\n
Canadian Prime Minister Mark Carney set a target in January of growing exports to China by 50% by 2030, though Chinese Foreign Affairs Minister Wang Yi suggested last month the figure could double. <\/p>\n
Ambassador Wang said Canadian exports to China have already climbed 27.5% in the five months following Carney’s January visit and hinted the eventual increase could reach 200%. <\/p>\n
On commodities, Wang said Canada could increase yearly crude oil shipments to China to as much as 22 million metric tonnes, up from 15.5 million last year. <\/p>\n
He also referred to further potential in liquefied natural gas, canola, peas and beef, adding that Canada currently represents 2% of China’s agricultural imports in those sectors. <\/p>\n
Trade duties remain mixed. China lowered tariffs on some Canadian goods in March but kept 100% tariffs on canola oil and 25% on pork. <\/p>\n
Reductions covering canola meal, peas and lobster are set to expire at the end of the year. <\/p>\n
Just Auto has contacted Lotus Group and Canada’s Global Affairs department for comment. <\/p>\n