Tesla facing EU anti-subsidy probe over China exports; shares dip By Investing.com

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Tesla facing EU anti-subsidy probe over China exports; shares dip

Published Sep 26, 2023 12:18

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Tesla facing EU anti-subsidy probe over China exports; shares dip

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Tesla (NASDAQ:TSLA) and other European car manufacturers that export vehicles from China to the European Union (EU) will be included in the EU's investigation into whether China's electric vehicle industry is benefiting from unfair subsidies, according to the Financial Times.

Citing the most senior trade official in Brussels, the FT reported that the probe appears to focus on assessing if Chinese electric vehicle manufacturers receive advantages that could distort competition in the global electric vehicle market.

Tesla shares fell about 1.3%, in premarket trading, on the news.

The electric carmaker ships more EVs to Europe from China than any other region.

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