Germany Just Warned Europe On "China's Counterstrike Move" | Silent EV War Explodes

Germany Just Warned Europe On "China's Counterstrike Move" | Silent EV War Explodes

#europe #ev #crisis

Chinese electric cars are flooding the world market, and they're like the hot new thing. But guess what? The European Commission President, Ursula von der Leyen, is not having it. She just launched an investigation against Chinese imports, and it's like poking a hornet's nest.

Von der Leyen, in her big annual State of the Union speech, basically said that these Chinese electric cars are crazy cheap, and it's not fair. China is throwing subsidies at them like confetti, and it's messing up our car market.

Now, why is this such a big deal? Well, China has become the kingpin in making the batteries that power all these clean electric cars. And get this, the global electric vehicle sales are about to shoot up by a third this year, making it worth a mind-blowing $560 billion.

But without fair competition, the EU thinks it's gonna lose out big time.And guess what? The French ministers agree with the investigations. They are saying to bring on the investigation. If China's subsidies break the rules of the World Trade Organization, Europe is going to fight back.

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China, on the other hand, hasn't said a word yet. But the China Chamber of Commerce to the EU went on social media to give it a thumbs-down emoji, saying they're not happy about this investigation.

Well, China already controls 60% of the world's battery production. Brussels is scared that if they don't do something, Chinese companies will take over the electric car market while the Western world tries to kick gas-guzzlers to the curb.

The United States is having a similar chat. Over there, the White House is trying to figure out how to make sure Chinese tech doesn't get a massive boost from subsidies. Even big names like Ford are getting their batteries from China.

Oh, and get this. Ursula von der Leyen dropped this less than a week after meeting with the Chinese Premier. He was all like, keep things fair and square in the market, Europe. So, you know this is a hot topic in international relations.

This announcement is like giving EU Trade Commissioner Valdis Dombrovskis a big, shiny bargaining chip for his upcoming trip to Beijing on September 25th. He's saying to China, that they need to open up China’s market to their stuff and balance out our trade deficit.

This meeting is like the pre-game before the big EU-China summit expected to happen later this year. Now, the European Commission decided to launch this investigation all by itself. Nobody complained, they just did it. That's a political move, and it comes with some political risks. It's like saying that they are taking a stand, with no turning back.

The car industry's head in Brussels, Sigrid de Vries from ACEA, thinks this investigation is a good sign. She's like, “Finally, someone's taking the threat to European carmakers seriously. China's cheap cars are taking over our field.”

The big German car brands are all up in China's business. They've got massive factories there.
Volkswagen used to be the key player, and BMW and Mercedes are ruling the premium market. So, if China decides to hit back, it's gonna hurt the Germans more than anyone else.

Meanwhile, the French car brands are saying that they pushed for this investigation, but it's not just about China. They are also aiming for Germany." They've only got a tiny 0.4% slice of the Chinese market pie, while the Germans are feasting on a comfy 17%.

One insider from a major German brand even whispered, "The French are not just going after Beijing, they're eyeing their German rivals too. And if there's a trade war, we're all in hot water."
But German Economy Minister Habeck says that they are just looking for fair competition here. If this investigation finds some major rule-breaking, they'll have to do something about it."

As we’ve mentioned, this directly affects the European industry, especially their powerhouse in car manufacturing, Germany. Germany's car industry is getting a bit edgy about the whole EU investigation into Chinese electric vehicles and the potential fallout.

German Economy Minister Robert Habeck pulled out the warning sign during a panel chat in Berlin. He said to Watch out, if the EU slaps duties on Chinese electric cars, they could be in for some retaliation from China.
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