The President of the European Commission, Ursula von der Leyen, announced this Wednesday (13) that an “antisubsidy investigation into electric vehicles from China” would be launched. The speech took place during the annual State of the Union address in the European Parliament.
“We need to be clear about the risks we face. Look at the electric vehicle sector. It is a crucial sector for the clean economy with great potential in Europe. But global markets are now flooded with cheaper Chinese electric cars, and their prices remain the same.” “We are kept artificially low by huge government subsidies. This distorts our market,” said von der Leyen.
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She compared the case of the automobile industry to the competition between Europeans and Chinese in the solar energy market. Von der Leyen claimed Beijing’s “unfair trade practices” had caused “pioneer companies” to “file for bankruptcy.”
China occupies a leading position in the production of electric cars. According to the International Energy Agency, the Chinese produced around 60% of all electric cars registered worldwide in 2022 and China has the largest electric car fleet in the world.
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In addition, the electric car sector is expanding worldwide. The share of electric cars in total car sales increased from 5% in 2020 to 14% in 2022.
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Editing: Vivian Virissimo