As the European Union investigates whether it should introduce import tariffs against Chinese EVs to protect its local manufacturers, Germany’s BMW and Mercedes say they are against the move, arguing that it could backfire.
In order to promote the growth of its domestic automotive manufacturing industry, China has offered generous subsidies to domestic companies making EVs and their batteries. Although the move has been successful, the nation’s automakers are now building more vehicles than they can sell domestically, leading to fears that they will undercut European automakers and sell vehicles at an unmatchable price.
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