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Hina is expected to dethrone Japan as the world’s top automobile exporter this year on the strength of electric vehicles and special demand from sanctions-hit Russia.
The European Union (EU) has launched an investigation into China's financial support for its electric vehicle (EV) industry, fearing that the surge in Chinese EV exports could put millions of auto jobs in Europe at risk. The investigation could result in new EU tariffs on Chinese EV imports, potentially leading to a global subsidy war. The move by the EU, along with the US imposing tariffs on Chinese EVs, reflects a broader trend of governments seeking to secure supply chains and protect key industries, which could lead to economic fragmentation.
The EU has aunched an investigation into China's financial support for its electric vehicle (EV) industry. Read more at straitstimes.com.
Europe China EV War: With European officials fearing millions of auto jobs are at risk from China’s surging electric vehicle exports, the bloc’s executive arm on Wednesday launched an investigation into Beijing’s financial support for the EV industry.