EU to investigate ‘flood’ of Chinese electric cars, weigh tariffs

Summary Companies EU opens anti-subsidy probe into Chinese EVs Investigation to last up to 13 months Chinese share of European EV market up to 8% this year BRUSSELS, Sept 13 (Reuters) – The European Commission launched an investigation on Wednesday into whether to impose punitive tariffs to protect European Union producers against cheaper Chinese electric vehicle (EV) imports it says are benefiting from state subsidies. “Global markets are now flooded with cheaper electric cars. And their price is kept artificially low by huge state subsidies,” European Commission President Ursula von der Leyen said in her annual address to the bloc’s…