Tesla, Volvo Set to Be First Winners of China-Canada EV Deal

Tesla Inc. and brands controlled by Zhejiang Geely Holding Group Co. will likely be the first beneficiaries of Canada’s move to slash import tariffs on made-in-China electric vehicles.

In a deal announced late last week, Canada agreed to allow 49,000 EVs from China annually at a tariff rate of 6.1%, removing a 100% duty, in exchange for a concession on canola. While the agreement is aimed at enticing long-term investment from Chinese automakers, at least initially the companies that stand to benefit will be manufacturers that already have North American certification.

That includes Tesla as well as the Geely-controlled brands ...