tradeelectric-vehicles1.205 min read EU Launches Anti-Subsidy Probe into Chinese EVs, Accelerating Renewable Energy Goals and Protecting European Solar Manufacturers
The European Union has launched an investigation into subsidies provided to Chinese electric vehicle (EV) manufacturers, citing concerns about distorted market competition. European Commission President Ursula von der Leyen stated that while Europe welcomes competition, it will not accept a race to the bottom. The probe comes as China's automobile and component exports, including EVs, have more than doubled in 2021, with prices kept artificially low due to significant state subsidies. Von der Leyen emphasized the need to defend against unfair practices while maintaining open communication with Beijing.
3 years ago•Source: CNBC
