Shares of Chinese automakers fell on the Hong Kong stock exchange on Thursday after the European Commission launched an investigation into underpricing of electric vehicles from China. In this respect reports Reuters.
BYD’s shares fell more than 3%, Xpeng and Geely’s shares fell 0.6%, and Nio’s shares fell 2%, according to the publication. Shares of state-owned auto giant SAIC fell 3.4%.
European Commission on Wednesday started Investigation into a case of underestimation of the prices of electric vehicles from China. Global markets are now flooded with cheap Chinese electric cars, EC president Ursula von der Leyen said. At the same time, prices are being pushed to artificially low levels thanks to government incentives. This creates a distortion in markets, including the European market, and this is unacceptable.
In June 2023 it became: knownThe market share of electric vehicles in Europe rose to 15.1%, surpassing diesel vehicles for the first time.
Previously reportedIt was stated that the Russian government proposed to make gas stations obligatory to install chargers for electric cars.
Source: Gazeta
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