German Carmakers Fear EU's China EV Probe: Minister

Germany’s economy minister has signalled that carmakers in the country are worried about the European Union’s newly launched investigation into Chinese state subsidies for the production of electric vehicles (EVs), according to a report by Politico.

At panel discussion in Berlin, the minister, Robert Habeck, said the country’s auto industry has a lucrative market in China, and carmakers are “afraid” that Beijing might retaliate against any duties that the EU might impose as a result of its investigation. Habeck’s comments are the first signs of internal divisions within the bloc over an investigation that China has described as a “naked protectionist act.”

Read the full story: Politico.

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Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at [email protected]