MILAN — European governments may be wary of budget Chinese electric vehicles flooding their markets, but they're also fiercely competing for a share of the manufacturing investment and jobs the new competitors bring.
The EU tariff decision is expected this week. On one hand, import taxes could help European automakers better compete with their Chinese counterparts, but they may also spur on Chinese automakers which are already investing heavily, and for the long-term, in Europe. Hungary has spent more than $1 billion in recent years to support new battery plants of South Korean groups SK On and Samsung SDI and Chinese battery giant CATL's planned factory.China's Leapmotor will use existing capacity of Franco-Italian partner Stellantis, with Reuters reporting the pair have chosen the Tychy plant in Poland as a manufacturing base.
China's Envision Group has already received 300 million euros in incentives under the scheme for a 2.5 billion battery plant creating 3,000 jobs. Spain might also host Stellantis' planned fourth gigafactory in Europe, with CATL.
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