China Tells It's Automakers To Stop Investing In Countries That Support Tariffs

China has reportedly already told its major automakers to hold off investments in EU countries that supported Europe’s new EV tariffs, according to Reuters.

 

While China started a little slow in the EV game, its investments into EV manufacturing have now started to bear fruit, and the country’s manufacturers have rapidly caught up and now passed western automakers, particularly on price.

As a result, both Europe and the US have recently imposed large tariffs on Chinese EVs, fearing that Chinese cars will undercut domestic industry with lower manufacturing costs. Chinese EVs are already quite popular in Europe, though very few sell in the US.