The European Union is launching an investigation into subsidies that China provides to electric vehicle makers
The European Union is launching an investigation into subsidies that China provides to electric vehicle makers, the head of the bloc’s executive branch said Wednesday, as concern grows that the aid is harming European companies.
“Global markets are now flooded with cheaper Chinese electric cars, and their price is kept artificially low by huge state subsidies. This is distorting our market,” European Commission President Ursula von der Leyen told EU lawmakers in Strasbourg, France.
