China's electric vehicle exports to the EU slumped by 19.6% in the first two months of the year compared to a year earlier.
Chinese EV exports to the European Union slumped by 19.6% in January and February 2024 compared to the same period last year as the EU continues its investigation into whether China’s subsidies are giving its auto manufacturers an unfair advantage over other EV makers. In the first two months of 2024, China exported around 75,600 EVs to the EU, according to official Chinese customs data reported by Bloomberg on Tuesday.
” The findings of the investigation, which is expected to be completed by the autumn of 2024, will “establish whether it is in the EU's interest to remedy the effects of the unfair trade practices found by imposing anti-subsidy duties on imports of battery electric vehicles from China,” the European Commission said. European Commission President Ursula von der Leyen said in her State of the Union Address in September that “global markets are now flooded with cheaper Chinese electric cars.
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