EU Investigates Whether Chinese EV Maker BYD Benefited from Billions in Illegal Subsidies
• China has given EV maker BYD at least $3.7B in direct subsidies from 2018-2022
• BYD gets more subsidies than other domestic and foreign automakers in China
• European industry struggles to compete with subsidized Chinese companies
• EU launched investigation into whether Chinese EV imports benefit from illegal subsidies
• EU probe ongoing, could impose tariffs on Chinese EVs as early as July