Hungary Crackdown on $20 Billion EV Sector Puts China on Notice

Hungary Crackdown on $20 Billion EV Sector Puts China on Notice Hungary’s $20 billion electric-vehicle industry, which has long enjoyed the protection of former premier Viktor Orban, is facing a reckoning as the country’s new leadership cracks down on environmental violations and looks to raise taxes. The government plans to introduce the strictest environmental rules in the European Union, hiking levies on polluters and ending lavish tax breaks for multinational companies, Prime Minister Peter Magyar said late Friday. The steps are part of a broad overhaul to rebalance corporate taxation, he said.