Europe's antitrust watchdog probes China undercutting its $4 billion wind turbine market, saying ‘we saw the playbook' with solar power [Fortune]
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Source: Fortune
By upping subsidies, the Chinese government has managed to grow exports while reducing the price of goods it manufactures—and the EU has caught wind of the trend. Brussels is now kicking up its scrutiny on Chinese suppliers in the European wind turbine market that's estimated to be worth $4.3 billion The EU plans to dig into the subsidies given to Chinese turbine suppliers by the government used in wind farms across Spain, France, Bulgaria and more, EU competition chief Margrethe Vestager said in a Tuesday speech made in Princeton, New Jersey. Vestager announced the move just days after the European Commission decided to launch a probe into subsidies given to Chinese companies for solar farms in Romania. Separately, the EU also opened an anti-subsidy investigation into Chinese-made battery EVs last year “We saw the playbook for how China came to dominate the solar panel industry,” Vestager said , adding that China's power play had resulted in European companies making less tha
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