EU launched investigation into subsidies to EV makers in China

 

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The European Commission, the executive arm of the European Union, launched an investigation into subsidies given to electric vehicle makers in China, said President Ursula von der Leyen.

Europe is open to competition but not for a race to the bottom, she said. “We have to be clear-eyed about the risks we face.” 

The electric vehicle sector is a crucial industry for the clean economy with a huge potential in Europe, but global markets are now flooded with cheaper Chinese electric cars and their prices are kept artificially low by huge state subsidies, she said.

“This is distorting our market and as we do not accept this distortion from inside our market, we do not accept this from the outside.”