Hungary Targets $20 Billion EV Industry; China Warned

Hungary’s new leadership is cracking down on the country’s $20 billion electric-vehicle (EV) sector, a move that puts China on notice. The industry, long protected by former premier Viktor Orban, now faces environmental inspections and potential tax increases. Officials have begun investigating violations and are considering higher levies on manufacturers. The shift marks a major policy change for Hungary, which has relied heavily on Chinese investment to build its EV supply chain.