New qualifying criteria for subsidies may make most Chinese EVs less price competitive in Europe
is reclassifying what it will consider eligible for a €5,000 EV subsidy. The new rules will look at the broader picture of EV manufacturing. This will include examining whether EVs are as green as they say they are, with the type of power used in production being factored in to the equation., French President Emmanuel Macron and government ministers have made little bones about wanting to ensure that state cash isn’t used to prop up Chinese automakers.
The new classification will effectively exclude Chinese EVs from the incentive scheme. This is because the manufacturer of most Chinese electric cars utilizes coal-generated electricity. Demand for EVs from China has reached new heights in Europe so much so, that Chinese automakers are looking forto transport cars. Indeed, data shows that Chinese new energy vehicle shipments to the European Union increased by 112 percent in the first seven months of 2023 and a staggering 361 percent from 2021.
Despite the European Commission announcing that it was looking into the flood of Chinese EVs, with possible tariffs mooted, a verdict isn’t expected to be delivered for another 13 months. France meanwhile has moved full-steam ahead with their new legislation. The fresh standards will come into play in December, with the government expected to publish a list of models that meet them.
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