France's revised subsidies for EVs pose existential threat to its brands in China

France's revised subsidies for EVs pose existential threat to its brands in China

Renault, Peugeot and Citroen have significantly scaled down their local operations in recent years. The revised subsidy policy the French government released for electric vehicles this week, coupled with the anti-subsidy probe of China-made EVs the EU announced last week, will leave the three French brands with literally no choice but to exit China.