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During an interview with China News Network, Michael Schumann, chairman of the Board of the German Federal Association for Economic Development and Foreign Trade, noted that the EU’s decision to impose definitive countervailing duties on Chinese-made electric vehicles will bring loss to everyone.

He stressed that Chinese carmakers adopt the best technology at the moment, and the competition between Chinese carmakers and European carmakers will drive innovation in Europe. However, the countervailing duties will seriously hit European carmakers, and that will be transferred to the consumer, leading to high prices of electric cars that will not lower. “It will not lead us to a faster transition to green mobility,” Schumann concluded. (Chen Tianhao)