Brussels will investigate Chinese state subsidies for electric cars, EU chief Ursula von der Leyen said Wednesday, vowing to defend Europe's industry against "artificially low prices". "Global markets are now flooded with cheaper Chinese electric cars. And their price is kept artificially low by huge state subsidies," von der Leyen said, during a speech at…
“Global markets are now flooded with cheaper Chinese electric cars. And their price is kept artificially low by huge state subsidies,” von der Leyen said, during a speech at the European Parliament in Strasbourg. France reportedly pushed von der Leyen to launch the investigation, but there are growing concerns in Europe about how much the continent relies on Chinese products.
France is particularly concerned that Europe will fall behind if it is not more assertive when confronted with China’s actions that are more protectionist.