Bruno Le Maire asserts that Europe's auto sector can tolerate inexpensive Chinese EVs

The finance minister of France, Bruno Le Maire, has stated that the European market can tolerate inexpensive electric vehicle imports. The government has introduced new subsidies, which are based on the amount of emissions produced by the producers of electric vehicles in the country. The plan aims to safeguard European car manufacturers from the rising competition of the cheaper electric vehicles prevailing in the market, imported from China.

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The Chinese manufacturers are the prime bodies in the market domain of EVs. Electric vehicles manufactured in China are mainly powered by coal-generated electricity. In the initiative to consider the amount of emissions, the government of France has taken up charges to promote more sustainable methods while setting up an advantage for European carmakers.

The Chinese car manufacturers are the leading bodies, while enabling advancements in battery productions, putting up a high performance in its domestic market and striking out the western rivalries. Although the EVs from China have just been introduced in the European market, the analysis suggests that the trends may reach around 1.5 million vehicles by the year 2030, making up around 13.5% of the EU’s 2022 sales.

The new subsidies are introduced to support the European market of electric vehicles, enabling the carmakers to sustain the probable loss that might occur due to the current market trends. The measure would make the marketers act following the EU’s policy to phase out internal combustion engines by 2035. However, the government is extending arms, prompting a collaboration with the Chinese EV sector by welcoming direct investments in the European EV industry. This collaboration directs to strengthen the idea of green mobility while promoting sustainability for a better future.

According to Procurement Resource, the government of France has introduced a new subsidy plan that is based on the amount of emissions by the producers of electric vehicles. The initiative aims to create an advantage for European car manufacturers while sustaining the cheaper EVs imported from China. However, the government welcomes collaboration with the Chinese EV sectors in order to promote green mobility while introducing advancements in automobiles and making them more sustainable.