9/26, 11:51 AM (Source: TeleTrader)
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Tesla to be part of EU probe into China's EVs

Tesla Inc. and some European automakers will be included in the European Union's investigation into electric vehicle subsidies in China, European Trade Commissioner Valdis Dombrovskis told the Financial Times on Tuesday. He said the probe is not limited to Chinese EV brands, but that "it can be also other producers' vehicles if they are receiving production-side subsidies."

Dombrovskis said the bloc is currently "probably the largest market" for EVs coming from China and that it is open to competition, as long as it is "fair." He also commented on China's data regulations, calling them a "systemic problem" for EU businesses and called on China to "provide more clarity" on the requirements for data transfer and local storage. Dombrovskis finished his five-day visit to China, during which he and Chinese Vice Premier He Lifeng agreed to protect multilateral trade and oppose protectionism.

Baha Breaking News (BBN) / DJ