The European Commission is on the verge of approving tariffs on electric vehicles (EVs) from the Chinese mainland, aiming to strengthen the region's own automotive sector. Daniel Gros, director of the Centre for European Policy Studies, shared his insights at the 2024 Bund Summit in Shanghai.
Gros highlighted that while the EU seeks these tariffs to create a more level playing field, the inherent cost advantages of Chinese EV manufacturers might limit the overall impact. This move reflects the EU's broader strategy to enhance competitiveness in the rapidly growing EV market.
As the global demand for electric vehicles surges, the EU's decision could influence market dynamics, encouraging innovation and investment within European borders. However, industry experts remain cautious, noting that overcoming the cost benefits enjoyed by Chinese makers will be a significant challenge.
Stay tuned to myglobalnews.net for more updates on this developing story and its implications for the global automotive landscape.
Reference(s):
European official: EU seeks tariffs to compete with Chinese EV makers
cgtn.com
