EU Probes Chinese Subsidies for Hungarian BYD Plant, FT Says, Citing Sources

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EU Probes Chinese Subsidies for Hungarian BYD Plant, FT Says, Citing Sources

Dow Jones03-20

--The European Commission is looking into whether China provided a Hungarian BYD electric car plant unfair subsidies, the FT reports, citing two sources familiar with the matter.

--The commission could force BYD to sell off assets, pay back the subsidy it received, reduce its production capacity or pay a fine if it decides the company benefited from unfair Chinese backing, the FT says.

--The commission declined to comment and BYD did not immediately respond to a request for comment, the FT reports.

Full story: https://shorturl.at/gwzrn

Write to Edith Hancock at edith.hancock@wsj.com

(END) Dow Jones Newswires

March 20, 2025 07:45 ET (11:45 GMT)

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