The EU has initiated an investigation into BYD, a leading Chinese automaker, concerning alleged violations of its electric vehicle subsidy regulations. Reports suggest that unfair subsidies from the Chinese government have allowed BYD's EV plant in Hungary to produce cheaper electric vehicles, distorting competition within the European market. This scrutiny follows the EU's recent decision to impose additional tariffs on Chinese-made electric vehicles, including a specific 17% levy on BYD. Should the investigation find substantiated claims of improper subsidies, BYD may face asset sales, capacity reductions, or fines for non-compliance.
The European Union is investigating BYD for allegedly violating EV subsidy rules with unfair Chinese government subsidies affecting competition in the EU market.
If evidence of improper subsidies is found, the EU could compel BYD to sell assets, reduce capacity, or pay significant fines for non-compliance.
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