PARIS (Reuters) – French Europe Minister Laurence Boon on Wednesday welcomed an anti-subsidy investigation into Chinese electric vehicles launched by the EU Commission, saying it was important to protect the bloc’s market.
“We won’t let our market be flooded by over-subsidised EVs that threaten our companies just as it had happened with solar panels”, she said in a statement.
(Reporting by Michel Rose, writing by Tassilo Hummel, Editing by Charlotte Van Campenhout)
PARIS (Reuters) – French Europe Minister Laurence Boon on Wednesday welcomed an anti-subsidy investigation into Chinese electric vehicles launched by the EU Commission, saying it was important to protect the bloc’s market.
“We won’t let our market be flooded by over-subsidised EVs that threaten our companies just as it had happened with solar panels,” she said in a statement.
Boon’s remarks came in response to the EU Commission’s decision to initiate an investigation into subsidies provided by the Chinese government to their domestic electric vehicle manufacturers. This move is seen as an effort to ensure fair competition in the European market and prevent the dumping of Chinese EVs.
The investigation aims to determine whether Chinese electric vehicles are receiving excessive subsidies, which could give them an unfair advantage in the market. The concern is that these subsidies could lead to a flood of Chinese electric vehicles entering the European market and undermining European companies.
Boon emphasized the importance of protecting European businesses from unfair competition. She drew a parallel between the situation with solar panels, where Chinese companies flooded the European market with heavily subsidized products, leading to the decline of European solar panel manufacturers.
It remains to be seen how the investigation will unfold and what the potential consequences could be for Chinese electric vehicle manufacturers. The EU Commission has the authority to impose anti-subsidy duties or other measures if it determines that Chinese EVs are indeed benefiting from unfair subsidies.
This investigation highlights the ongoing tension between the European Union and China over trade and market access. The EU has been increasingly vigilant in its efforts to ensure a level playing field and fair competition in various sectors, including electric vehicles.
As the electric vehicle market continues to grow globally, competition among manufacturers intensifies. Ensuring fair and equal opportunities for all market players is crucial for the long-term sustainability of the industry.
In response to Boon’s statement, Chinese officials have reiterated their commitment to fair trade and cooperation. The Chinese Ministry of Commerce stated that they would actively cooperate with the EU Commission’s investigation and expressed hopes for a fair and just outcome.
This investigation will likely signal the EU’s stance on subsidized electric vehicles and could have broader implications for trade relations between the EU and China.
Credit: The Star : Tech Feed
