The European Union said Wednesday that it had"sufficient evidence" of illegal Chinese electric car subsidies as it officially launched an inquiry that has enraged Beijing.
Some fear the European Union's action could lead to a trade war after Beijing warned the probe would harm trade relations between the two sides. The notice included details about how the commission found evidence of loans at favourable rates, tax exemptions and components bought very cheaply.The clock formally starts ticking now and the probe must be completed within 13 months - though the EU can impose provisional anti-subsidy duties nine months from Wednesday.
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