EU Trade Commissioner Maroš Šefčovič said on October 9 that the EU and China have agreed to halve Chinese exports of hybrid and plug-in hybrid vehicles to the bloc. The announcement followed two days of talks in Beijing with Commerce Minister Wang Wentao. The package also covers better EU access to China's market and easier Chinese licensing of rare earth exports.
The cut would amount to "several million cars" over four years, but details are missing. Reports differ on whether the halving is measured against projected growth or current volumes, and no implementation timetable or mechanism was given. China's Commerce Ministry said the understanding complies with WTO rules and did not state the scale of the reduction.
Šefčovič called the deal a crucial first step. EU leaders are due to discuss it at the start of a Brussels summit next Thursday.