Germany opens EUR 3bln EV support scheme to Chinese importers, FT reports; New subsidy programme that runs till 2029 will support purchase or lease of about 800,000 cars
Newsquawk Staff ·
Germany opens EUR 3bln EV support scheme to Chinese importers, FT reports; New subsidy programme that runs till 2029 will support purchase or lease of about 800,000 cars.
What it means
Germany's new EUR 3 billion electric vehicle support scheme aimed at Chinese importers signals a strategic push in the EV sector, likely aimed at fostering stronger trade ties with China. This move could lead to increased competition for local manufacturers, while also affecting supply chains and carbon targets within the EU, making it a notable development for various affected sectors.
Sources
- Brussels is demanding that the UK be bound by European restrictions on Chinese EVs and that ministers imposetariffs of up to 35% on Chinese-made EVs as the price of allowing British car firms equal access to EU markets, reports The Times
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