European Union sets Chinese hybrid car imports at around 350,000 annually

Brussels, October 12 (KUNA) -- The European Union announced on Monday that it intends to cap imports of hybrid cars from China at 350,000 vehicles annually starting in 2027 for a period of four years, as part of an agreement with Beijing to regulate the entry of these vehicles into the European market and curb their influx. In a statement, the EU said this measure would reduce Chinese exports to the bloc by more than half compared to projected levels for 2026, which could reach 800,000 vehicles. It clarified that the import ceiling would increase by 6 percent annually from the second year of implementation, noting that the EU would rely on trade protection measures allowing it to restrict imports of certain products to limit their flow into European markets. This move comes amid growing EU concerns over the rising volume of Chinese car imports and the challenges they pose to the European automotive industry, particularly following the bloc’s imposition of high additional tariffs on Chinese electric vehicles in 2024 amid allegations of unfair government subsidies. Last week, the EU and China agreed to regulate exports of hybrid and plug-in hybrid vehicles from China to European markets, without disclosing the operational details of the agreement at the time. (End) A.R.N. / N.A.A.