EU probe on Chinese EVs “naked protectionist act”, to have negative impact on economic, trade ties – commerce ministry
MACRO POLICY & REGULATION
EU probe on Chinese EVs “naked protectionist act”, to have negative impact on economic, trade ties – commerce ministry
MACRO POLICY & REGULATION

EU probe on Chinese EVs “naked protectionist act”, to have negative impact on economic, trade ties – commerce ministry

 

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A European Commission investigation into Chinese electric vehicle subsidies will have a “negative” impact on economic and trade ties, China’s commerce ministry said on Thursday.

European Commission President Ursula von der Leyen on Wednesday announced the investigation, accusing China of flooding global markets with electric cars that had artificially low prices due to huge state subsidies.

“China believes the investigative measures are in reality to protect its own industry in the name of ‘fair competition’,” the ministry said.

“It is a naked protectionist act that will seriously disrupt and distort the global automotive industry and supply chain, including the EU, and will have a negative impact on China-EU economic and trade relations.”