China, EV, Electric Vehicles, BYD, Subsidies, Clean Energy, Europe, EU, Regulation
The Chinese government has granted direct subsidies of at least $3.7 billion 3.4 billion euros to EV manufacturer BYD , which has been one of the main beneficiaries of China ’s massive subsidies for green technologies, a German think tank that advises the government said in a new report on Wednesday. China has recently hiked direct government subsidies to some of the dominant Chinese green-tech companies, the Kiel Institute for the World Economy, IfW, said in the report.
“China's subsidy policy has been a controversial issue for years European industries often struggle to compete with Chinese counterparts on price,” said Dirk Dohse, Research Director at the Kiel Institute and co-author of the report. “However, without China's subsidized technology, products crucial for Germany's green transformation would become more expensive and scarce as well,” Dohse added.
EV Electric Vehicles BYD Subsidies Clean Energy Europe EU Regulation
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