- September 26, 2023
- Posted by: admin
- Category: Daily News
- A number of Chinese automakers are announcing plans to start manufacturing in Europe, emphasizing job creation in hopes of reassuring authorities increasingly worried about the influx of cheap Chinese EVs into the market.
- Much of this activity comes with the European Union opening an anti-subsidy investigation into imports of electric vehicles from China. The EU is increasingly concerned that Chinese state support risks distorting the market to the detriment of European automakers, putting jobs at risk in an economically crucial industry.
- China in 2022 produced 7 million new energy vehicles, including EVs, more than any other country. About 15% went to export markets, of which roughly half — around 550,000 — were sent to Europe, an industry group reports.
- As Europe’s economy shows signs of slowing, the European Commission is focusing on industrial development and protecting jobs — especially in the auto industry, a major employer in Germany and France.