Chinese NEV Industry Hits Back at EU Anti-Subsidy Probe

The European Union’s decision to launch an investigation into whether Chinese manufacturers of new-energy vehicles (NEVs) are benefitting from massive state subsidies has cast a shadow over a booming market that’s already propelled China to become the world’s biggest vehicle exporter.

The anti-subsidy probe, announced by European Commission President Ursula von der Leyen on Wednesday, comes at a time when many Chinese EV-makers such as SAIC Motor Corp. Ltd., BYD Co. Ltd. and Nio Inc. are ramping up their global expansion push.