European Commission President Ursula von der Leyen announced on Wednesday an anti-subsidy investigation into electric vehicles coming from China.Global markets are flooded with cheap Chinese electric cars, von der Leyen said, addressing European Union lawmakers in Strasbourg, France.
Their price is kept artificially low by “huge state subsidies,” she said, leading to market distortion in the EU.
The EU however is not tolerating market distortions either from within the bloc or from outside of it, von der Leyen said.
“Europe is open to competition, not for a race to the bottom.
“At the same time it was “vital to keep open lines of communication and dialogue with China,” she added.
