Business · Trade · 2 days ago

China agrees to reduce hybrid car exports to the EU

China agrees to reduce hybrid car exports to the EU

The EU and China have agreed on a compromise to reduce Chinese exports of hybrid and plug-in hybrid cars to Europe.

EU trade chief Maros Sefcovic said the number of cars shipped over the next four years would fall by several million, potentially cutting deliveries by more than half.

Both sides say the agreement follows World Trade Organization rules.

The deal could ease pressure on European carmakers, as Chinese brands have gained ground in a major EU car market segment.

Hybrids combine a petrol or diesel engine with an electric motor, and plug-in models can also be charged.

The car agreement is one of 16 points in a wider understanding that also covers tariffs and export controls, including supplies of rare earths and permanent magnets.

The results will go to the European Commission president and EU member states for review, with a further EU-China meeting planned for January.

Sources

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