The European Commission began investigating on Wednesday whether to set punitive tariffs to protect its producers from imports of cheaper Chinese electric vehicles that it says benefit from state subsidies. Here are the big questions about the move, which led to a slide in shares of Chinese EV makers on Thursday: WHY EXPORT TO EUROPE AND HOW MUCH HAS IT GROWN? A key driver for their push abroad has been slowing demand in China that has exacerbated overcapacity.
Brussels will investigate Chinese state subsidies for electric cars, the EU chief said Wednesday, vowing to defend Europe's industry from unfair competition.European Commission president Ursula von der Leyen announced the anti-subsidy investigation, vowing to defend Europe's manufacturers.
LONDON (Reuters) -The European Commission launched an investigation on Wednesday into whether to impose punitive tariffs to protect European Union automakers against Chinese electric vehicle (EV) imports it says are benefiting from excessive state subsidies. Europe is open to competition.
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(Bloomberg) Taiwan Semiconductor Manufacturing Co. has agreed to build a €10 billion ($11 billion) plant in eastern Germany in partnership with Infineon Technologies AG, NXP Semiconductors NV and Robert Bosch GmbH.Most Read from BloombergMusk Says He May Need Surgery, Will Get MRI on Back and NeckUS Bank Shares Drop After Moody’s Cuts Ratings, Warns on RisksThe Global South Breaks Away From the US-Led World OrderEastern US Prepares for a ‘Potent’ Storm System: Weather WatchPayPal Launches a S