EU to limit Chinese hybrid vehicle imports to 350,000 a year

The EU is to limit the number of hybrid electric vehicles imported from China to 350,000 cars a year, a significant reduction from the current level of about 800,000 vehicles.

Volkswagen's CEO, Herbert Diess, has backed the EU's plan to bolster its domestic industry, stating that it is crucial for Europe to become independent in key technologies.

The move comes as the EU seeks to quickly impose a quota on Chinese imports using World Trade Organization rules.