European Commission President Ursula von der Leyen announced this Wednesday the launch of an investigation into subsidies for electric vehicles from China.
“Look at the electric vehicle sector. This is a critical sector for the green economy with huge potential for Europe. But global markets are now flooded with Chinese electric cars, which are cheaper. And their prices are kept artificially low by gigantic government subsidies.” This was stated by the President of the Commission, speaking at the debate on the State of the Union in the European Parliament in Strasbourg (France).
Therefore, von der Leyen said that “the Commission will launch an investigation into subsidies for electric vehicles coming from China” because the subsidies “distort” the European market.
“Europe is open to competition, not a race to the bottom,” he added.
European Commission executive vice-president responsible for trade Valdis Dombrovskis will travel to China next week as part of an investigation into Chinese subsidies in the electric vehicle sector “to discuss commercial and economic opportunities and challenges.”
“We are open to competition, but not to unfair practices. This is why we are launching an investigation into electric vehicles coming from China,” Valdis Dombrovskis said in a post on the social network X (formerly known as Twitter).
“We want to keep the dialogue open to reduce risks, not separate them,” said Valdis Dombrovskis.
Author: Lusa
Source: CM Jornal
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.