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‘Now or never’: the European drive to head off influx of cheaper Chinese electric cars
- The European Commission is investigating what some EU players say is a flood of subsidised EVs from China
- The solar industry offers a precedent, analysts say, as the continent tries to meet green targets
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Finbarr Berminghamin Brussels
The European Union is scrambling to answer SOS calls from its hi-tech industries to fend off the challenge of China’s manufacturing juggernaut.
From electric vehicles (EVs) and solar panels to wind turbines and hi-tech batteries, European businesses say they are being eaten alive by Chinese imports sold well below market rates.
This is not a new problem: the EU and European businesses have long railed against what they see as market-distorting subsidies.
But industry figures say the problem has become particularly acute in sectors vital to European Commission president Ursula von der Leyen’s de-risking agenda. Her response, they say, will be a test of how serious the EU is about having a resilient, green manufacturing base.
“It is now or never,” said Johan Lindahl, secretary general at the European Solar Manufacturing Council (ESMC). “If investors don’t see that Europe is willing to support an industry that is under attack by China, there will be no investments at all at scale.”
01:08
China’s largest shipment of electric vehicles sets sail from Shanghai port
China’s largest shipment of electric vehicles sets sail from Shanghai port
Von der Leyen launched her first big salvo at China on Tuesday, announcing an anti-subsidies investigation into Chinese-made EVs, which Brussels says are being sold in Europe 20 per cent cheaper than local competitors.
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