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EU Reportedly Probing Whether CN Subsidizes BYD COMPANY's Hungarian Plant
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The European Commission is conducting a preliminary investigation into whether China has provided subsidies to BYD COMPANY (01211.HK)'s Hungarian plant, the Financial Times reported, citing informed sources. If confirmed, the EU may compel BYD COMPANY to sell some assets, reduce production capacity, or repay subsidies. The company may even be subject to fines for violations. As indicated by EU officials, BYD COMPANY's Hungarian plant was built by Chinese labor and primarily uses imported components such as electronics, which contributes minimally to the EU's economic value creation. AAStocks Financial News |
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