The European Union followed suit by imposing tariffs of up to 38 per cent from July 4 on three Chinese EV makers: SAIC, Geely, and BYD. The decision came after an anti-competition investigation found that the carmakers had benefited from Beijing’s “unfair subsidisation”, which threatened to undercut the EV manufacturing sector in Europe, where the cheapest locally made vehicles can cost three times the price of Chinese models.
Facing narrowing opportunities in Western markets, Chinese carmakers are eyeing promising long-term growth prospects in Southeast Asia, where a burgeoning…
