Elon Musk’s Tesla has been overtaken by its Chinese rival, BYD, as the world’s top selling electric carmaker, reports theguardian.com. Chinese electric carmakers such as BYD and Nio have set their sights on becoming major players in international markets, with a particular focus on Europe. However, these goals could be under threat after the European Commission launched an anti-subsidy investigation last September into Chinese electric vehicle imports. The investigation, which is expected to last a year, could result in the EU imposing punitive tariffs on Chinese vehicles. US-manufactured electric vehicles that include Chinese-made battery components would also be blocked from accessing full subsidies.

Source: The Guardian January 03, 2024 06:58 UTC