2023-09-17 20:31:59
The paper, which the Archyde.com news agency quoted, is intended to form the basis for discussions regarding Europe’s economic security at the EU summit in Granada, Spain, at the beginning of October. The paper says Europe will need energy storage to meet its goal of zero greenhouse gases by 2050 due to intermittent wind and solar power.
This will increase EU demand for lithium-ion batteries, fuel cells and electrolysers needed in hydrogen technology by ten to 30 times in the coming years. “Without the implementation of effective measures, by 2030 the European energy ecosystem might end up in a dependency on China that is different but similar in severity to that of Russia before its invasion of Ukraine,” it said.
The EU has a strong position in the production of electrolyzers, but is heavily dependent on China for fuel cells and lithium-ion batteries, which are needed for electric cars.
There is also a risk of being left behind in other areas
Lithium-ion batteries and fuel cells are not the only areas where the EU is vulnerable, the paper says. A similar scenario might exist with digital technologies. Forecasts indicate that demand for sensors, drones, servers, storage devices and data transmission networks will rise sharply this decade. The EU has a relatively strong position when it comes to networks, but has significant weaknesses in other areas.
Significantly higher tariffs on Chinese electric cars possible
Meanwhile, EU Internal Market Commissioner Thierry Breton believes that import duties on electric cars manufactured in China might be doubled. With a view to the competition investigation into Chinese electric cars announced by Commission President Ursula von der Leyen, Breton said on Sunday on the French television channel LCI that similar investigations “often lead to tariff increases of ten to 20 percent”. However, he does not want to anticipate the results of the investigation.
Von der Leyen announced on Wednesday a competition investigation into market distortions caused by Chinese subsidies for electric cars. The world markets are currently being flooded with “cheaper Chinese electric cars,” said von der Leyen in the Strasbourg EU Parliament, adding: “This is distorting our market.”
Currently import duty of ten percent
If the Commission’s investigation concludes that Beijing is breaking international trade law rules, it might impose punitive tariffs on Chinese vehicles – which would bring with it the risk of a trade war with China.
In an interview with LCI, Breton said that import duties of ten percent are now being levied on Chinese electric cars in the EU. In the USA, for example, it is 27.5 percent, he added. With regard to the outcome of the proceedings, the Internal Market Commissioner said several times: “We will see.”
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