China and the EU reached a consensus at their second trade and investment consultation meeting on October 8-9, agreeing not to launch anti-dumping and anti-subsidy investigations into Chinese plug-in hybrid electric vehicles (PHEVs) and to continue advancing the price undertaking agreement for battery electric vehicles (BEVs). China will also maintain a green channel for rare earth and permanent magnet exports to the EU.
The China-EU consensus on PHEVs is a positive development that reduces trade friction and has a negligible impact on lithium battery demand, reinforcing a bullish stance on Chinese EV and battery exporters.
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