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China carmakers told to halt investment in EU nations backing EV tariffs
The Straits Times
|November 01, 2024
China has told its carmakers to halt big investment in European countries that support extra tariffs on Chinese-built electric vehicles (EVs), two people briefed about the matter said, a move likely to further divide Europe.
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The new European Union tariffs of up to 45.3 per cent came into effect on Oct 30 after a yearlong anti-subsidy probe into EV imports from China that divided the bloc and prompted retaliation from Beijing. Ten EU members, including France, Poland and Italy, supported tariffs in a vote in October, in which five members, including Germany, opposed them and 12 abstained.
Chinese carmakers, including BYD, SAIC and Geely, were told at a meeting held by the Ministry of Commerce on Oct 10 that they should pause their heavy-asset investment plans, such as for factories, in countries that backed the proposal, said the sources.
Dit verhaal komt uit de November 01, 2024-editie van The Straits Times.
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