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JP, EU Said to Unify Subsidy Rules on EVs, Solar Panels
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Japan and the European Union will agree as early as May to develop common rules for government subsidies and procurement of electric vehicles (EVs) and renewable energy equipment, The Nikkei reported. Based on a ministerial draft, both parties will establish a supply chain based on common principles of sustainability, transparency and reliability. The agreement is intended to reduce overdependence on specific countries to ensure stable supply and set environmental standards, given the current influx of cheap Chinese EVs and solar panels into the EU, while Japan also heavily relied on cheap Chinese products for renewable energy equipment such as solar panels. The agreement is expected to target a wide range of products, such as EVs, offshore wind power and power semiconductor devices. The EU will also consider establishing procurement rules to reduce dependence on certain countries. AAStocks Financial News |
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