The European Commission on Wednesday started investigating electrical automobiles imported from China, a transfer that might result in penalty tariffs above the usual 10% EU price for automobiles in an purpose to guard regional producers. “Global markets are now flooded with cheaper electric cars. And their price is kept artificially low by huge state subsidies,” Reuters reported European Commission President Ursula von der Leyen as saying. Chinese carmakers exported roughly 350,000 EVs to 9 European international locations through the first six months of this 12 months, together with Germany, Sweden, and Belgium, based on figures from the China Passenger Car Association. China’s Ministry of Commerce mentioned in a Thursday assertion that the investigation “is a naked protectionist act that will seriously disrupt and distort the global automotive industry and supply chain.” [Reuters]
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