EU announces an investigation into Chinese subsidies for electric vehicles
BRUSSELS (AP) — The European Union is launching an investigation into subsidies that China provides to electric vehicle makers. European Commission President Ursula von der Leyen said Wednesday that global markets are flooded with cheaper Chinese electric cars that receive huge state subsidies. China’s leaders have made the country the biggest market for electric vehicles by investing billions of dollars in subsidies to get an early lead in what is seen as a promising industry. Von der Leyen says this is distorting the market. She did not provide details about the investigation.