EU signals possible clampdown on China’s subsidized cars

EU’s Margrethe Vestager warns of restrictions against China for illegal car industry subsidies, speaking at Princeton University. An investigation is underway, focusing on ensuring competitive equality and preventing China’s potential market dominance pattern previously seen in the solar panel sector. With just three percent of solar panels in Europe being locally produced, Vestager stresses this issue’s severity across all green industries, highlighting risks to the EU’s economic security and competitiveness. The EU responds in alignment with U.S. efforts to counteract dependency revealed during the pandemic. Results from the car industry investigation are expected by summer, with a parallel probe into Chinese wind turbine subsidies ongoing.