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☆ As prices fall, two thirds of global car sales could be EVs by 2030- study
▼ + stars: | 2023-09-14 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

A parking bay reserved for electric car charging can be seen on display in London, Britain, October 19, 2018. Batteries are expensive and account for around 40% of an EV's price tag, a cost that has so far made them unaffordable for many consumers. But those prices are steadily coming down as carmakers invest in new battery chemistries, materials and software to make more efficient EVs, RMI senior principal Kingsmill Bond told Reuters. EV sales in the European Union jumped almost 61% in July versus the same month in 2022, accounting for 13.6% of all car sales. The European Union aims to ban the sale of new fossil-fuel models from 2035.

Persons: Simon Dawson, Kingsmill Bond, RMI's Bond, Nick Carey, Christina Fincher Organizations: REUTERS, Rocky Mountain Institute, RMI, European Union, Union, United, Reuters, Research, Exeter University's, Energy Innovation, Thomson Locations: London, Britain, Europe, U.S, China, United States, California, New York, Exeter, India

Still, it could hurt perceptions of Chinese EV makers as they expand abroad, Bernstein analysts said in a client note. Nio and Geely declined to comment on the EU probe, while BYD, Xpeng and SAIC did not respond to requests for comment. Shares in European carmakers were also among the biggest fallers on the euro zone stock index (.STOXXE50) in early trading. STRAINED RELATIONSThe anti-subsidy probe, initiated unusually by the European Commission and not from any industry complaint, comes amid broader diplomatic strains between the EU and China. It accounted for 40.25% of EV exports from China between January and April 2023.

Persons: Annegret, Ursula von der Leyen, Bernstein, BYD, CATL, Cui Dongshu, EVs, Donny Kwok, Brenda Goh, Ryan Woo, Anne Marie Roantree, Tom Hogue, Jamie Freed, Mark Potter Organizations: REUTERS, China, EV, EU, European, Ministry of Commerce, Eurasian Group, Reuters Graphics, Reuters Graphics Hong Kong, HK, Geely, SAIC, BMW, Volkswagen, Mercedes, European Commission, China Passenger Car Association, EVs, for Strategic, Internal Studies, Reuters, Thomson Locations: Berlin, Germany, Europe, China, SHANGHAI, BEIJING, Beijing, EU, Brussels, Southeast Asia, Reuters Graphics Hong, Shanghai, Xpeng, Shenzhen, SZ, Moscow, Russian, Ukraine, U.S, Hong Kong

☆ China denounces Europe probe of EVs as 'naked protectionist' act
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Nio ET5 electric vehicle is displayed at the Chinese EV maker's showroom in Shanghai, China, February 3, 2023. The investigation launched on Wednesday will determine if punitive tariffs are warranted to protect EU producers from what European Commission President Ursula von der Leyen described as a "flood" of cheaper Chinese EV imports. "It is a naked protectionist act that will seriously disrupt and distort the global automotive industry and supply chain, including the EU, and will have a negative impact on China-EU economic and trade relations." The probe, initiated by the European Commission and not from any industry complaint, will further irritate a tense relationship with China partly strained by trade and investment imbalances. Reporting by Ryan Woo; additional reporting by Ellen Zhang; Editing by Clarence Fernandez and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Ursula von der Leyen, Ryan Woo, Ellen Zhang, Clarence Fernandez, Jamie Freed Organizations: EV maker's, REUTERS, Rights, European, EV, EU, European Commission, Thomson Locations: Shanghai, China, Rights BEIJING, European Union, EU

Analysts said the probe could slow capacity expansion and the capital spending cycle of China's battery suppliers, although the move should not pose a big downside risk for Chinese EVs. Hong Kong shares of market leader BYD fell more than 3%. Nio and Geely declined to comment on the EU probe, while BYD, Xpeng and SAIC did not respond to requests for comment. GROWING MARKET SHAREEU officials believe Chinese EVs are undercutting the prices of local models by about 20% in the European market, piling pressure on European automakers to produce lower-cost electric vehicles. It accounted for 40.25% of EV exports from China between January and April 2023, up from 36.5% in 2022.

Persons: Angelika Warmuth, Ursula von der Leyen, BYD, CATL, der Leyen, Li Qiang, Cui Dongshu, EVs, Donny Kwok, Brenda Goh, Ryan Woo, Anne Marie Roantree, Tom Hogue, Jamie Freed Organizations: BYD Company, REUTERS, China, EV, European Commission, EU . European, Analysts, HK, Geely, SAIC, EU, Chamber of Commerce, China Passenger Car Association, Center, Strategic, Internal Studies, Volvo, Thomson Locations: Munich, Germany, Europe, HONG KONG, SHANGHAI, Hong Kong, Beijing, Shanghai, Xpeng, Shenzhen, SZ, China, Moscow, Russian, Ukraine, New Delhi, Brussels, U.S

☆ Tata Motors tests export markets for EVs, to roll out EV-only dealerships in India
▼ + stars: | 2023-09-14 | by ( Aditi Shah | ) www.reuters.com time to read: +4 min

[1/5] Tata Motors' Nexon and Nexon.ev cars are seen parked for display outside a hotel ahead of its launch in New Delhi, India, September 14, 2023. Chandra said it was too early to discuss details of the export markets and there would be more clarity next year. Sales of EVs globally have been growing as tighter emission regulations push carmakers to increase the share of electric cars in their portfolio. Growing sales and the new Nexon EV have become the catalyst for its plan to launch EV-only dealerships, Chandra said. Tata has a country-wide dealership network for its gasoline and diesel cars through which it currently also sells its EVs.

Persons: Anushree, Shailesh Chandra, Chandra, Tata, Tesla, Aditi Shah, Sharon Singleton Organizations: Tata Motors, REUTERS, India EV, Reuters, Tata, China's, Mahindra, Thomson Locations: New Delhi, India, BYD, Mumbai

☆ Are Teslas worth the price? How EVs compare with gas-powered vehicles
▼ + stars: | 2023-09-14 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

After credits and other costs, the upfront price of Tesla's Model Y is only about $100 more than the Audi Q5. At $29,135, the 2023 Leaf has a higher sticker price than the 2023 Sentra, which goes for $21,295, according to Edmunds. However, it would take nearly 12 years to make up the $10,000 difference in upfront costs when compared with the Sentra. Overall, that works out to an upfront cost of $49,130 — $4,335 more than the 330i. With annual cost savings of $1,675, Model 3 owners would cover the upfront price difference in just over two and a half years.

Persons: Edmunds, Kelley, Fueleconomy.gov Organizations: Tesla, Audi, Nissan Leaf, Nissan Sentra, ICE, Leaf, BMW Locations: Edmunds

Here are the big questions about the move, which led to a slide in shares of Chinese EV makers on Thursday:WHY EXPORT TO EUROPE AND HOW MUCH HAS IT GROWN? That is mainly due to Beijing's decade-old industry promotion policy of incentives and subsidies that enabled China to become the world's biggest EV market and control the global EV supply chain, including raw materials. The single largest exporter is Tesla, accounting for 40% of China's EV exports between January and April, U.S. thinktank the Center for Strategic and International Studies says. Chinese state subsidies for electric and hybrid vehicles totalled $57 billion between 2016 and 2022, consultants AlixPartners have estimated. It paid out nearly $15 billion to encourage EV purchases through 2021, China Merchants Bank International has estimated.

Persons: Annegret, Bill Russo, EVs, BYD, AlixPartners, Brenda Goh, Ellen Zhang, Miyoung Kim, Clarence Fernandez Organizations: REUTERS, Rights, European Commission, EV, EU, Volkswagen, Renault, BMW, WHO, Center for Strategic, International Studies, Volvo, SAIC's, MG, HK, China Merchants Bank International, Thomson Locations: Berlin, Germany, China, Shanghai, Europe, United States, CHINA, Netherlands, Denmark

HONG KONG (AP) — China's Commerce Ministry has protested a decision by the European Union to investigate exports of Chinese electric vehicles, saying Thursday that it is a “protectionist” act aimed at distorting the supply chain. The EU announced Wednesday it will probe government subsidies provided to Chinese automakers that the EU contends keep EV prices artificially low. China has become the biggest market for electric vehicles after investing billions in subsidies to gain an edge. “It’s naked protectionist behavior that will seriously disrupt and distort the global automotive industrial chain and supply chain including the European Union, and will have a negative impact on China–EU economic and trade relations,” he said. Cui urged the EU to take an “objective view of the development of China’s electric vehicle industry” instead of using what he said are economic and trade tools to increase the costs of Chinese electric vehicles in Europe.

Persons: Yadong, “, ”, Cui Dongshu, ” Cui, Cui Organizations: —, Commerce, European Union, EU, China Passenger Car Association Locations: HONG KONG, China, EVs, Japan, Europe, Beijing, EU

☆ Head of Chinese auto industry group urges EU be objective on China EVs
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Sept 14 (Reuters) - China's electric vehicle (EV) industrial chain is highly competitive, Cui Dongshu, secretary general of the China Passenger Car Association, said on Thursday, urging the EU to take an objective view of the industry's development. Cui made the comments in a post on his own WeChat account, responding to an EU anti-subsidy probe into Chinese EVs. The EU could not arbitrarily use unilateral economic or trade tools to prevent development of EV products in Europe or increase their operating costs, Cui wrote. The price of China-made cars exported to Europe is generally almost double the domestic price, he said, adding that China's strong EV exports is not the outcome of hefty state subsidies. Reporting by Qiaoyi Li and Brenda Goh; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Cui Dongshu, Cui, Qiaoyi Li, Brenda Goh, Kim Coghill Organizations: China Passenger Car Association, EU, Thomson Locations: BEIJING, EU, Europe, China

Fain says the targeted strikes will give the union leverage in contract talks and keep the auto companies guessing about the UAW’s next move. Currently, UAW workers hired after 2007 don’t receive defined-benefit pensions. If a walkout occurs, workers would receive about $500 a week in strike pay — far short of what they earn while they’re working. During a 40-day UAW strike in 2019, GM alone lost $3.6 billion. The union’s inability to organize U.S. factories run by foreign automakers represents a disadvantage for the union because those companies pay less than Detroit companies do.

Persons: Shawn Fain, Fain, Motors, They’ve, Mary Barra, ” Ford, ” Fain, “, that’s, Sam Fiorani, ” Fiorani Organizations: DETROIT, — Auto, General Motors, Ford, United Auto Workers, UAW, Detroit, GM, Fiat Chrysler, AutoForecast Solutions, Anderson Economic, UPS, Teamsters, Cornell University Locations: United States, Korean, Stellantis, Detroit, Europe, Asia, U.S, Midwest, That’s, —

☆ Gigacasting 2.0: Tesla reinvents carmaking with quiet breakthrough
▼ + stars: | 2023-09-14 | by ( Norihiko Shirouzu | ) www.reuters.com time to read: +8 min

Another said the whole design process for a large metal mold would typically cost about $4 million. To overcome the obstacles, Tesla turned to firms that make test molds out of industrial sand with 3D printers. To cast subframes with hollows as part of one gigacasting, Tesla plans to place solid sand cores printed by the binder jets within the overall mold. But despite that greater flexibility achieved in both the design process and the complexity of the large frames, there was still one more major hurdle to clear. And once Tesla is happy with the prototype mold, it can then invest in a final metal one for mass production.

Persons: Elon Musk, Tesla, Musk, Terry Woychowski, Woychowski, Tesla's, David Clarke Organizations: Caresoft, U.S, GM, Reuters, Thomson Locations: AUSTIN, Texas, Britain, Germany, Japan, United States

☆ Gigacasting 2.0: Tesla Reinvents Carmaking With Quiet Breakthrough
▼ + stars: | 2023-09-14 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +8 min

Persons: Norihiko Shirouzu, Tesla, Elon Musk, Musk, Terry Woychowski, Woychowski, Tesla's, David Clarke Organizations: Caresoft, U.S, GM, Reuters Locations: Norihiko Shirouzu AUSTIN , Texas, Britain, Germany, Japan, United States

The Friday walkout would start with targeted strikes designed to "create confusion," among automakers, Fain said, leaving the door open for last-minute agreements. Referring to Biblical scripture, Fain asked union members: "Are you willing to have faith and move that mountain? On Wednesday, he told UAW members they must fight for a better contract "by any means necessary" - one of Malcolm X's most quoted phrases. That six-week strike cost GM $3.6 billion and stressed the finances of UAW members. Like the Hollywood unions, the UAW members at the Detroit Three face threats from new technology that a richer contract will not resolve.

Persons: Shawn Fain, Fain, Malcolm X, they’ve, Sen, Bernie Sanders, Malcolm X's, Joe White, Ben Klayman, Bianca Flowers, David Shepardson, Matthew Lewis, Diane Craft Organizations: DETROIT, United Auto Workers, Detroit Three, automakers, General Motors, Ford, Stellantis, UAW, Wall, Detroit, GM, Teamsters, United Parcel Service, UPS, Hollywood, Thomson Locations: Hollywood, Detroit, Chicago, Washington

European markets opened mixed on Thursday as investors in the region look ahead to the European Central Bank's next rate decision. Autos fell 1.4% as initial optimism over an EU probe into Chinese electric vehicle subsidies soured over fears of retaliatory action. Economists surveyed by Dow Jones had forecast an increase of 3.6%. The core consumer price index, which excludes food and energy and is closely monitored by the Federal Reserve, rose by 0.3% on the month and 4.3% on the year. Economists polled by Dow Jones signaled rises of 0.2% and 4.3%, respectively.

Persons: Dow Jones Organizations: Central Bank's, EU, ECB, U.S . Department of Labor, Federal

The United States also offers tax credits of up to $7,500 for buyers of new electric cars, and several more for manufacturers of EVs and EV components. And each government views the support they provide as merely also doing "whatever it takes" to keep their own industries competitive. The mere threat of a probe into China's subsidies might actually be enough to slow the pace of imports from China while allowing sales of European cars to pick up further. Shares of major European car producers have heavily lagged U.S. and China EV rivalsIn that way, the EU Commissioner will have provided a valuable service to Europe's manufacturers without needing to actually dig too deeply into China's subsidy practices. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Ursula von der Leyen, von der Leyen, Gavin Maguire, Josie Kao Organizations: EU Commission, European EV, European Union, EV, United, Volkswagen, BMW, Renault, China EV, Reuters, Thomson Locations: LITTLETON , Colorado, Europe, Beijing, European, United States, Germany, China, EU

☆ 'Blatantly protectionist': China sharply rebukes EU probe on Chinese EV subsidies
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Vcg | Visual China Group | Getty ImagesChina has accused the European Union of "blatant protectionism" after its executive arm unexpectedly launched an "anti-subsidy" investigation into China's electric vehicle makers. The Chinese Commerce Ministry urged dialogue to safeguard the interests of Chinese companies and commit to global efforts to address climate change and achieve carbon neutrality. If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing. "If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing." EU members are demanding the regional bloc shield European carmakers from Chinese EVs that they say are heavily subsidized by the Chinese government.

Persons: Ursula von der Leyen Organizations: Visual China, Getty, European Union, Chinese Commerce Ministry, CNBC, EU, Beijing . Eurasia, of, Eurasia Group Locations: Jinhua, Zhejiang Province, China, EU, Brussels, Beijing, U.S, Europe, Strasbourg

WASHINGTON (AP) — Efforts by the Biden administration to limit pollution from automobile tailpipes — a major source of planet-warming emissions — face a crucial test as legal challenges brought by Republican-led states head to a federal appeals court. The U.S. Court of Appeals for the District of Columbia Circuit will hear arguments Thursday and Friday on three cases challenging Biden administration rules targeting cars and trucks. The cases before the appeals court will test a 2021 Environmental Protection Agency rule that strengthened tailpipe pollution limits and a 2022 EPA decision that restored California’s authority to set its own tailpipe pollution standards for cars and SUVs. The court cases come as the Biden administration pushes the auto industry to quickly adopt electric vehicles as part of its climate agenda. “Far from doing something unexpected or novel'' in the tailpipe pollution rule, "EPA merely tightened existing standards,'' Kim wrote.

Persons: Biden, Ken Paxton, Joe, ”, Paxton, Dave Yost, Peter Zalzal, ″, Pete Huffman, Todd Kim, “, Kim, Zalzal Organizations: WASHINGTON, Republican, U.S, Appeals, District of Columbia, Biden, Transportation, Supreme, Environmental, Agency, EPA, National Highway Transportation Safety Administration, Texas, GOP, Texas Senate, Environmental Defense Fund, Natural Resources Defense Council, NHTSA, Justice Department's, Natural Resources, General Motors, Ford, GM, Alliance, Automotive Innovation, EV, Auto Innovators, Department, EDF Locations: U.S, California, Russia, Ukraine, Texas, Ohio, West Virginia

☆ EU to investigate 'flood' of Chinese electric cars, weighing tariffs
▼ + stars: | 2023-09-13 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

"Global markets are now flooded with cheaper electric cars. It is also unusual in that it is brought by the European Commission itself, rather than in response to an industry complaint. GRINDING GEARSThe influx of cheaper Chinese electric vehicles has already prompted some European carmakers to take action. At the same time Von der Leyen stressed the importance of electric vehicles to the EU's ambitious environmental objectives. The founder of Nio warned in April that Chinese EV makers should brace for the possibility that foreign governments would impose protectionist policies.

Persons: Ursula von der Leyen, BYD, EVs, Nio, Mercedes Benz, Stellantis, France's, Tesla, VDA, Von der Leyen, Simone Tagliapietra, Kingsmill Bond, Foo Yun Chee, Philip Blenkinsop, Kim Miyoung, Brenda Goh, Anne Marie Roantree, Nick Carey, Kate Abnett, Gabriela Baczynska, Louise Heavens Organizations: EU, Investigation, European EV, European Commission, European Union, Renault, BMW, HK, China Passenger Car Association, Dynamics, Volvo, EV, VW, France's Renault, Japan, Rocky Mountain Institute, Thomson Locations: BRUSSELS, Brussels, China, Moscow, Ukraine, Germany, France, Europe, U.S

☆ EV maker VinFast plans Asia expansion, to launch Indonesia plant in 2026
▼ + stars: | 2023-09-13 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

Of that, up to $200 million would be for its Indonesian plant, targeting production in 2026 with an output of 30,000 to 50,000 units each year. Since its establishment in 2017, VinFast has announced numerous ambitious EV growth plans overseas. VinFast aims to establish its own distributors and may open show rooms in those locations, it said. VinFast is entering the American market at a time when EV pricing is under pressure, led by market leader Tesla and a range of Chinese companies. Shares of Vietnam's largest conglomerate and VinFast parent Vingroup (VIC.HM) were down 0.33% as of 0635 GMT.

Persons: Mike Blake, Pham Nhat Vuong, EVs, VinFast, Tesla, Phuong Nguyen, Christina Fincher Organizations: Los Angeles Auto, REUTERS, Nasdaq, U.S . Securities, Exchange Commission, EV, Thomson Locations: Los Angeles , California, U.S, Indonesia, India, Malaysia, HANOI, Asia, VinFast, Indonesian, Southeast, Vietnamese, Haiphong, North Carolina, East, Africa, America, Europe

☆ France welcomes EU probe into Chinese electric vehilces - minister
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: 1 min

French State Secretary in charge of European Affairs Laurence Boone leaves the Elysee Palace after the weekly cabinet meeting in Paris, France, July 29, 2022. REUTERS/Benoit Tessier/File photo Acquire Licensing RightsPARIS, Sept 13 (Reuters) - French Europe Minister Laurence Boon on Wednesday welcomed an anti-subsidy investigation into Chinese electric vehicles launched by the EU Commission, saying it was important to protect the bloc's market. "We won't let our market be flooded by over-subsidised EVs that threaten our companies just as it had happened with solar panels", she said in a statement. Reporting by Michel Rose, writing by Tassilo Hummel, Editing by Charlotte Van CampenhoutOur Standards: The Thomson Reuters Trust Principles.

Persons: European Affairs Laurence Boone, Benoit Tessier, Laurence Boon, Michel Rose, Tassilo Hummel, Charlotte Van Campenhout Organizations: European Affairs, REUTERS, Rights, EU Commission, Thomson Locations: Paris, France

☆ European Union launches anti-subsidy probe into Chinese EVs
▼ + stars: | 2023-09-13 | by ( Matt Clinch | ) www.cnbc.com time to read: 1 min

China's automobile and component exports more than doubled in 2021 from a year ago, exceeding 30% growth in China's exports overall, Bernstein analysts found. The European Commission, the executive arm of the European Union, on Wednesday launched an investigation into subsidies given to electric vehicle makers in China, according to President Ursula von der Leyen. Speaking at her annual State of the Union address at the European Parliament in Strasbourg, she said the commission is launching an "anti-subsidy investigation into electric vehicles coming from China." Autos stocks in Europe were higher by 1.2% on Wednesday morning after the announcement, in a largely down day for most sectors. This is a breaking news story, please check back later for more.

Persons: Bernstein, Ursula von der Organizations: European Commission, European Union, Wednesday, of Locations: China, Strasbourg, Europe

Associated Press calculations show projected incentives will rise by more than $290 million from the $1.8 billion deal originally announced last year. The deal calls for Hyundai and battery maker LG Energy Solution to invest $7.6 billion in the Georgia plant and hire 8,500 workers by the end of 2031. It’s the largest economic development deal in Georgia history, and comes with the largest incentive package. If Hyundai didn't owe that much state corporate income tax, Georgia would instead give the company personal income taxes collected from Hyundai workers. The deal requires Hyundai to pay back a portion of the incentives if the company falls below 80% of promised investment or employment.

Persons: Pat Wilson, Wilson, Jobs, Jeff Amy Organizations: Hyundai Motor Group, South Korean, Associated Press, Hyundai, LG, Economic, Local, U.S Locations: SAVANNAH, Ga, Georgia, Ellabell, Savannah, Bryan County, U.S, United States, North America, Atlanta

Yes to life" take part in a anti-lithium protest in Covas do Barroso, Portugal, August 15, 2023. With 60,000 tonnes of known reserves, Portugal is already Europe's biggest producer of lithium, traditionally mined for ceramics. Referring to the Barroso project and another in France, he said it would be "a disaster if either ... doesn't succeed". But with only 15 of 916 submissions in a public consultation supporting the project, Savannah faces a struggle to win over locals who have said they will fight it and the APA in court. "Politicians listen to those who shout loudest and have most money - and that's the mining industry," she said.

Persons: Catarina Demony, Maria Loureiro, Loureiro, Barroso, Martin Jackson, , Savannah's, Michael Schmidt, doesn't, Schmidt, Nelson Gomes, Greta Thunberg, Karin Kvarfordt Niia, LKAB's, Anders Lindberg, UDCB's Catarina Alves Scarrott, Aida Fernandes, Barroso's, Dale Ferguson, Ferguson, Emanuel Proenca, Teresa Camille, Gunilla Hogberg Bjorck, Miguel Pereira, Covas do Barroso, Pietro Lombardi, Simon Johnson, Aislinn Laing, Catherine Evans Organizations: REUTERS, Savannah Resources, DO BARROSO, EU, Agriculture Organization, CRU, APA, State, Barroso, Reuters, UDCB, Thomson Locations: Covas do Barroso, Portugal, Barroso, China, London, Savannah, Europe, France, Kiruna, Sweden's, Montalegre, Scarrott, Portuguese, EUROPE, Chile, Covas, Karr, Covas do, Madrid, Stockholm

☆ Chinese EV subsidies will be investigated by EU over concerns they're distorting the market with cheaper prices
▼ + stars: | 2023-09-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

The European Commission president has announced an "anti-subsidy investigation" into Chinese EVs. Ursula von der Leyen said the EU's market was being distorted by "huge state subsidies." "And as we do not accept this from the inside, we do not accept this from the outside," Von der Leyen added. Chinese EV makers haven't yet brought their cars to the US, but they have become increasingly popular on the other side of the Atlantic. Not for a race to the bottom," Von der Leyen said.

Persons: Ursula von der Leyen, Von der Leyen, BYD, It's, Tesla, Forbes Organizations: European Commission, Bloomberg, Service, EV, Reuters, Volkswagen, Guardian Locations: Wall, Silicon, Europe, China, Germany

☆ ‘A spit in the face.’ Electric vehicle plans worry a Midwest auto town
▼ + stars: | 2023-09-13 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

The first piece of steel for the Stellantis and Samsung joint venture EV battery plant is raised earlier this year. Many believe the company will decide to have other work done at the Kokomo plants, even if it no longer needs transmissions or engines. A fraction of auto plant payThe Kokomo battery plant is still more than a year away from starting production. The battery plant workers are likely to start at half that, Quirk said. Even the top wage will be nearly 30% below top wage at a UAW plant today, let alone what it could be in the upcoming contract.

Persons: “, ”, Gary Quirk, Quirk, epitomize, Stellantis —, Adam Nelson, Shawn Fain, Denny Butler, Chris Isidore, Todd Dunsmore, EVs, Philip Kline, Daniel Acker, Joe, Biden, Butler, —, Kline, ” Quirk, it’s, won’t, that’s, Dunsmore, “ I’ve Organizations: Indiana CNN, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, Samsung, UAW, Big, —, Motors, Ford, EV, Local, CNN Kokomo, Kokomo, EVs, Employees, Bloomberg, Getty, General Motors, GM, LG, Workers, aren’t Locations: Kokomo, Indiana, Kokomo , Indiana, Midwest, Indianapolis, South Bend, Stellantis, ”, —, Ohio, North America

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