Beijing to China EV makers: Steer clear of Europe’s tariff-supporting nations

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SHANGHAI, Oct 31 — China has told its automakers to halt big investment in European countries that support extra tariffs...

Even before Beijing issued its guidance, Chinese companies were cautious about independently setting up production sites in Europe, as it requires large sums of investment and a deep understanding of local laws and culture.

During a visit to China by Spanish Prime Minister Pedro Sanchez last month, a Chinese company agreed to build a US$1 billion (RM4.38 billion) plant in Spain to make machinery used for hydrogen production.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaCanadaChinaFranceGermanyHungaryIndiaItalyNetherlandsPolandSpainTurkeyUnited States

Topics: Tariifs Geely Chery Investments BYD Europe SAIC China ev

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 12:47:48 (5 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 624 words

Reading Time: 4 minutes read

Sentences: 31 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Malay Mail

News ID: 23433647

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