The tax credit rules were aimed at lowering the US’ reliance on China's supply chains and could hurt America's hope of becoming a 'global leader' in electric vehicles, critics say

Despite stalled talks between both the sides, it is unlikely that Beijing would want to torpedo its ties with the EU given its trade with the US is already hurt by geopolitics

Shenzhen-listed shares of the carmaker were up 5.74% at close of trade on Monday, while its Hong Kong-listed stock was up 3.53%

The directive comes as, starting Wednesday, Chinese electric vehicles heading to Europe will be subject to tariffs as high as 45.3%

The chief of the best-selling car brand in the US has been taking trips to China and testing Chinese EVs over the past 18 months to size up the competition

The EU is attempting to hold talks with some EV-makers outside of official channels, shaking “the foundation and mutual trust of the negotiations,” Beijing says

Chinese companies have pumped in more than $100bn into foreign clean tech projects since 2023, research group says

Technical talks with China had intensified to an almost daily basis and could extend beyond the end of October, a top European Commission official said

China and EU have both vowed to intensify efforts to avert the tariffs, amid concerns that could trigger a 'trade war' between the economic powerhouses

The planned tariffs, if approved by the EU's 27 members, will potentially raise prices for consumers at a time when the region's EV sales have plunged 44%