The president of the European Commission, Ursula von der Leyen, announced this Wednesday the opening of an investigation into subsidies for electric cars from China.
“Let’s look at the electric vehicle sector. It is a crucial industry for a green economy, with great potential for Europe. But global markets are now flooded with cheaper Chinese electric cars. And their prices are kept artificially low throughout of gigantic state subsidies. , said the President of the Commission, speaking in the debate on the State of the Union, in the European Parliament, in Strasbourg (France).
For this reason, Von der Leyen announced that “the Commission will open an investigation into subsidies for electric cars from China”, since the subsidies are “distorting” the European market.
“Europe is open to competition, not a race to the bottom,” he added.
Source: TSF
