Margrethe Vestager Leads EU Charge on Chinese Green Tech

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