The European Union (EU) has heightened its antitrust scrutiny of Chinese wind turbine suppliers in the $4.3 billion market, amid tensions over green technology and concerns about competition. The EU, worried about the competitive edge gained by Chinese companies through government subsidies, has launched an investigation, as reported by Fortune.
Margrethe Vestager, the EU’s competition chief, announced the probe into subsidies for Chinese wind turbine companies in Europe, during a speech in New Jersey. This follows investigations into Chinese subsidies in solar and electric vehicle sectors, as the EU aims to protect its green tech industries from unfair competition.
Vestager expressed concern over China’s ambitions in dominating green technology, citing the decline of European solar panel manufacturing as a warning. Despite European leaders like Siemens Energy, the competition with cost-effective Chinese turbines challenges Europe’s green tech market.
The action has prompted criticism from China’s Chamber of Commerce to the EU, denouncing the investigation as discriminatory and protectionist. The fallout from this probe could reshape the global wind turbine market and influence future trade relations between the EU and China.
This move by the EU follows closely on the heels of a separate probe into subsidies for Chinese companies involved in solar farms in Romania. Additionally, the EU had previously opened an anti-subsidy investigation into Chinese-made battery electric vehicles (EVs) last year, signaling a broader concern over China’s competitive practices in key technological and environmental sectors.
Source: Fortune
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI