Reported 7 months ago
The European Commission will impose additional duties of up to 38.1% on imported Chinese electric cars from July to combat excessive subsidies, risking retaliation from Beijing. The move comes after the US announced plans to increase tariffs on Chinese EVs, affecting companies like BYD and SAIC. This could lead to billions in extra costs for Chinese carmakers and has sparked fears of Chinese retaliation, as well as concerns from European automakers facing competition from cheaper Chinese EVs. Beijing is considering measures to safeguard its interests, with the EU aiming to protect its industry and address the influx of Chinese EVs in the European market.
Source: YAHOO