15:20 - 13.09.2023

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September 13, Fineko/abc.az. The European Commission is launching an investigation into subsidies for Chinese electric cars, ABC.AZ reports, citing European Commission’s head Ursula von der Leyen, speaking at the plenary session of the European Parliament in Strasbourg.

"Global markets today are filled with cheaper Chinese electric cars. And their prices are artificially set at low level thanks to government subsidies. This creates a skew in our markets. And since we do not recognize these distortions within our market, we do not recognize them from the outside. Therefore, I can announce today that the European Commission is launching an investigation into subsidies for electric cars from China," she said.

Earlier, Financial Times indicated that Beijing has tightened the rules for issuing licenses for production of electric vehicles in China. According to BloombergNEF, 5.67 million electric vehicles were sold in China in 2022 (including cars with a hybrid engine), which is more than half of the global number.