The EU and China are on the verge of a retaliatory trade war over EVs. China has the upper hand

Open this photo in gallery: Employees work on an assembly line at a SAIC Volkswagen MEB electric vehicle plant, in Shanghai, China, on Nov. 8, 2019.ALY SONG/Reuters The European Union wants everyone to drive electric vehicles by 2035. It just doesn't want them to be Chinese EVs, which rather complicates achieving the goal of delivering the internal combustion engine to the gallows pole. Chinese EVs are cheap compared to those made by Tesla, BMW, Mercedes, Volkswagen and Stellantis and could be hot sellers throughout Europe. That's the point - they are too cheap. Last week, the European Commission, the EU's…