By Gavin Maguire LITTLETON, Colorado (Reuters) - EU Commission chief Ursula von der Leyen announced an anti-subsidy probe into Chinese electric ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSLITTLETON, Colorado - EU Commission chief Ursula von der Leyen announced an anti-subsidy probe into Chinese electric vehicles on Wednesday, and declared Europe will do"whatever it takes to keep its competitive edge" at the European Parliament.
Indeed, the European Union itself offers an array of benefits for EV producers and consumers, including tax breaks for manufacturers, thousands of euros of subsidies per car for buyers and tax credits for households and businesses that install EV chargers. The sabre rattling may also be a shrewd defensive measure aimed at protecting Europe's battered auto sector, which has been forced to curb output due to soaring power and operating costs over the past year.
The mere threat of a probe into China's subsidies might actually be enough to slow the pace of imports from China while allowing sales of European cars to pick up further.
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