China's commerce minister initiated his European tour by meeting with BYD and CATL, addressing concerns about unfair subsidies in China's EV industry.
China 's commerce minister kicked off a trip to Europe by meeting top Chinese automakers BYD and CATL, as he prepares to discuss an ongoing probe by the bloc into whether China 's EV industry has benefited from unfair subsidies., as he prepares to discuss an ongoing probe by the bloc into whether China 's EV industry has benefited from unfair subsidies.
Wang Wentao held a roundtable meeting in Paris on Sunday with representatives from more than 10 enterprises that also includeDuring the meeting, he reiterated Beijing's stance that Chinese EV firms do not rely on subsidies to gain a competitive advantage and said accusations by the U.S. and Europe of "overcapacity" were groundless.
"China's electric vehicle companies rely on continuous technological innovation, perfect production and supply chain system and full market competition for rapid development, not relying on subsidies to gain competitive advantage," Wang said.told Reuters in late March that the discussions would focus on the European Commission investigation that began late last year and aims to determine whether to impose tariffs on exports to protect European car makers.
French Finance Minister Bruno Le Maire has said he will hold talks with Wang on Monday. The Chinese trade ministry did not respond to a request for comment.in China where she has said global concerns are growing over China's excess industrial capacity, noting it is not healthy for China and is hurting producers in other countries.
BYD Co Ltd BYD Co Ltd Contemporary Amperex Technology Co Ltd Geely Automobile Holdings Ltd Autos China Government Electric Vehicle Manufacturing Electric Vehicles Janet Yellen China European Commission Automobile Parts Manufacturing Automobile Electronics Manufacturing Automobile Manufacturing Business News
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