The European Union has announced that it will be imposing duties on imports of electric vehicles from China starting Thursday. This decision comes after unsuccessful negotiations between Brussels and Beijing to resolve their trade dispute. The European Commission spokesperson stated that the issue revolves around the impact of Chinese government subsidies on European markets and the surge in Beijing's exports of green technology to the EU.
According to the European Commission, the market share of Chinese-built electric cars in the EU has risen significantly, from 3.9% in 2020 to 25% by September 2023. This increase has been attributed to unfair pricing practices that undercut European industry prices.
