Is the EU shooting itself in the foot with China EV probe?
The news that the European Commission is to launch an anti-subsidy probe into the Chinese EV industry after becoming concerned about the number of Chinese-made EVs heading into Europe sent ructions around markets in mid-September. We were similarly shocked, especially as Chinese companies are not currently driving Made in China (MiC) EV shipments to Europe. Indeed, the biggest importer of MiC vehicles is Tesla (NASDAQ:TSLA), which brought in 128,000 YTD July, while Geely-Volvo brought in 47,000 vehicles and Renault (EPA: RNO) 33,000. SAIC (under its MG brand) is the largest Chinese producer sending Chinese-made vehicles into the EU (72,000 of...
Made in China