1/28, 1:16 AM (Source: TeleTrader)
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EU looking to resolve EV subsidies dispute with US

European Internal Market Commissioner Thierry Breton said that Brussels is looking to quickly resolve the dispute with the United States involving tax credits for electric vehicles.

Breton argued that the Biden administration's $369 billion subsidy plan contained in the Inflation Reduction Act will move more investments from electric vehicles toward other clean energy sectors such as solar panels and wind turbines.

"We already see the impact: A pull factor for European investment towards the US ... Now Europe must also develop its own policy approach to secure its industrial clean technology basis," Breton told a conference during his visit to Washington.

Baha Breaking News (BBN) / ND