--The European Commission is looking into whether China provided a Hungarian BYD electric car plant unfair subsidies, the FT reports, citing two sources familiar with the matter.
--The commission could force BYD to sell off assets, pay back the subsidy it received, reduce its production capacity or pay a fine if it decides the company benefited from unfair Chinese backing, the FT says.
--The commission declined to comment and BYD did not immediately respond to a request for comment, the FT reports.
Full story: https://shorturl.at/gwzrn
Write to Edith Hancock at edith.hancock@wsj.com
(END) Dow Jones Newswires
March 20, 2025 07:45 ET (11:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.