Nio and Geely declined to comment on the EU probe, while BYD, Xpeng and SAIC did not respond to requests for comment.fell more than 1%. CATL did not respond immediately to a request for comment.The anti-subsidy probe, initiated by the European Commission and not from any industry complaint, is set to further irritate an already strained relationship with China.
The EV probe will set the agenda and tone for bilateral talks ahead of the annual China-EU Summit, set to take place before year-end, with a focus returning to EU demands for wider access to the Chinese market and a rebalance of a trade relationship that Brussels describes as "imbalanced". Cui Dongshu, the secretary general of the China Passenger Car Association, said on his personal WeChat account that he was personally "strongly against" the review and urged the EU to take an objective view of the industry's development and not "arbitrarily use" economic or trade tools.
The European Commission said China's share of EVs sold in Europe has risen to 8% and could reach 15% in 2025.
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Source: MarketWatch - 🏆 3. / 97 Read more »