The world's largest producer of EVs and EV batteries is not ready to say what retaliatory measures it has in mind, though.

china unhappy with new us ev subsidies, will do something about it

China, the world’s largest producer of electric vehicles and electric vehicle batteries, is not happy with the Inflation Reduction Act that was signed into law last month in the United States.

The EV powerhouse says the law, which provides tax breaks for electric vehicles and critical EV battery components manufactured in North America, is “discriminatory.” Furthermore, China has threatened unspecified action if needed to protect its interests.

The country claims the Inflation Reduction Act ruling out tax breaks for vehicles assembled abroad “discriminates against similar imported goods, and is a suspected breach of the World Trade Organization principles.” That’s what Shu Jueting, a spokesperson of the Ministry of Commerce, said during a Thursday briefing according by Bloomberg.

“China will continue to assess and evaluate implementation of the legislation and will take measures to safeguard its legal interests when necessary.”

The Chinese government official did not provide details regarding the retaliatory measures being considered.

china unhappy with new us ev subsidies, will do something about it

US President Joe Biden

The Inflation Reduction Act stipulates that cars will not be eligible for up to $7,500 in subsidies if critical battery components come from China, Russia and other “foreign entities of concern.”

China is home to some of the world’s largest battery giants such as Tesla supplier CATL, with much of the world’s battery supply chain being reliant of the Asian country.

China’s ambassador to the U.S. Qin Gang also warned against the potential risks of trying to cut China out of the EV chain. He said the interests of both nations are “intertwined” during a visit to the Detroit Auto Show last week.

“The electric vehicle value chain, or specifically the supply chain, is very globalized,” he said, adding all players will continue to “work in accordance with economic laws.”

China is not alone in criticizing the Biden administration’s Inflation Reduction Act. The European Union and South Korea also voiced their complaints over the law. Last week, the EU raised the issue with the US, with a European Commission spokesperson saying afterwards the EU would “take the necessary steps to defend its interests.”

South Korea, one of America’s closest allies and economic partners, went a step further, with a senior official in Seoul calling the US law “betrayal.” However, Korean and US government representatives have discussed the issue in recent days, and suppliers may be offered some sort of exemption, according to SNE Research.

Keyword: China Unhappy With New US EV Subsidies, Will Do Something About It

CAR'S NEWS RELATED

Best cars for a 'Love Bug' remake

Tennessee’s Yard Art The Thorndyke Special The Hot Rod The Hippie Van Jim’s Lamborghini Growing up, it’s safe to say my absolute favorite movie was Disney’s “The Love Bug.” As a kid living in a world before Pixar’s “Cars,” it was pretty much the best car movie. I loved ...

View more: Best cars for a 'Love Bug' remake

Audi timing belt tensioner prompts Utah bomb squad visit

An aftermarket timing belt tensioner found in a Salt Lake City apartment prompted a visit from the bomb squad this week after it was mistaken for a potential explosive device. Police partially evacuated the apartment complex in which it was found “out of an abundance of caution” and called ...

View more: Audi timing belt tensioner prompts Utah bomb squad visit

2023 GMC Sierra HD 2500 and 3500 will get more expensive

GMC Sierra HD pickups are about to get more expensive again after recently becoming more expensive, according to GM Authority. In July, GMC and Buick raised the prices on certain vehicles in their lineups anywhere from $975 to $1,675 by making the previously optional OnStar a standard feature. Next ...

View more: 2023 GMC Sierra HD 2500 and 3500 will get more expensive

Our week with EVs: Recapping the diverse collection of electric cars we tested

Mercedes-Benz EQB First Drive Review: Next electric Benz is a little different 2022 Chevy Bolt EV Road Test Review: Time to play EV, gas or airplane 2023 Genesis GV60 Road Test Review: The third of Hyundai Group’s E-GMP EVs is the fastest, but softest It may be hard to ...

View more: Our week with EVs: Recapping the diverse collection of electric cars we tested

Europe car sales lowest since 1996 after 12-month decline

BERLIN – Europe registered the lowest number of new passenger cars in the month of June this year since 1996 at just over 1.06 million vehicles, with some carmakers seeing sales drop by nearly 50%, data from Europe’s automobile association showed on Friday. Volkswagen Group was the hardest-hit major ...

View more: Europe car sales lowest since 1996 after 12-month decline

More Than Just A Carmaker: Toyota Motor PH Launches Toyota Mobility Solutions

Automotive industry leader, Toyota Motor Philippines Corporation (TMP) inaugurated today Toyota Mobility Solutions Philippines, Inc. (TMSPH), a wholly owned subsidiary that will be a provider of mobility-related services. TMSPH ventures into the development and offering of a range of ‘new mobility solutions’ that will enhance Toyota as a brand ...

View more: More Than Just A Carmaker: Toyota Motor PH Launches Toyota Mobility Solutions

'F1 22' feels fast and familiar | Gaming Roundup

‘F1 22’ impressions ‘Construction Simulator’ is launching Sept. 20 Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. This week in racing game news: ‘F1 22’ impressions At its core, “F1 22,” the latest installment in the F1 ...

View more: 'F1 22' feels fast and familiar | Gaming Roundup

Watch a single-engine plane crash-land on 91 Freeway in California

A single-engine Piper Cherokee airplane was forced to crash land on the 91 Freeway in California after losing power about 45 minutes outside of Los Angeles. Yes, that means this was a very busy highway, practically bursting at the seams with traffic. No, amazingly nobody died, either in the ...

View more: Watch a single-engine plane crash-land on 91 Freeway in California

Ford files 'Mustang Dark Horse' trademark application

Make adventures more comfortable with high-quality Jeep grab handles

New Lucid Air variant to debut & Stealth Look to be on display during Monetary Car Week

Chevy offers incentives to prevent Corvette Z06 flipping

Average U.S. gas price falls below $4/gallon

German court: SUV driver must pay more than a car for running red light

Australian vehicle crash tests to include underwater performance

Toyota C-HR rumored to get revamp next year and an EV version

Geely's electric Zeekr 009 is an EV Alphard we never had; 700 km, 542 PS, top speed 190 km/h

A Newey, Brawn and Anderson row that shows F1 doesn’t change

Sorry, EV buyers, you won't get to pick your own pedestrian safety sounds

There won't be enough copper to meet climate goals, study indicates

OTHER CAR NEWS

;
Breaking thailand news, thai news, thailand news Verified News Story Network