China-made EV brands turn to Africa
AFRICA is becoming a new market for Chinese electric vehicle auto brands as trade frictions loom between Beijing and Europe, the US and Canada, with the import of heavily subsidised Chinese-built EVs in the crosshairs of market regulators. In mid-June, the European Commission announced an increase in tariffs to 38.1% on imports of Chinese-built green vehicles, arguing that these vehicles benefit from Chinese government subsidies, infringing on fair competition in the European common market. The US and Canada have also raised concerns over subsidies offered by the Chinese government and proposed even higher- 100%- tariffs on Chinese-made EV imports. Now,…