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China tells carmakers to pause investment in EU countries backing EV tariffs, Reuters reports

  • China has instructed its carmakers to stop major investments in European nations that support higher tariffs on Chinese electric vehicles, according to two sources briefed on the matter.
  • The European Union imposed new tariffs of up to 45.3% after a year-long investigation, which has led to a response from Beijing.
  • Chinese carmakers, including BYD, SAIC, and Geely, were advised to pause investment plans in countries that supported the tariffs and target those that opposed them, as per the ministry meeting.
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