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Chinese EVs' competitive advantage by no means depends on subsidies: minister

Updated: April 8, 2024 Source: Xinhua News Agency
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PARIS, April 8 (Xinhua) -- Wang Wentao, Minister of Commerce of China, said here Sunday that Chinese electric vehicle (EV) manufacturers' rapid development is a result of constant tech innovations, well-established supply chain system and full market competition, not subsidies.

The accusations of "overcapacity" by the United States and Europe are groundless, he said.

Noting that the development of China's EV industry has made an important contribution to the global response to climate change as well as green and low-carbon transformation, Wang said the Chinese government will actively support enterprises in safeguarding their legitimate rights and interests.

In the face of external challenges and uncertainties, Wang said enterprises should enhance their internal capabilities, adhere to innovation, strengthen risk management and attach importance to green development.

Chinese enterprises, he said, should also deepen cooperation with local enterprises, seek common development, and act as firm participants and contributors in global green transformation.

Representatives from China Chamber of Commerce to the EU and more than 10 enterprises including Geely, SAIC, BYD and CATL attended the meeting, which focused on optimizing the global layout of Chinese enterprises and deepening the pragmatic cooperation between China and Europe in the EV industry.

During the meeting, participants expounded on their investment and operation in Europe, and their response to EU's anti-subsidy investigation.

They pledged to continue to promote scientific and technological innovation, uphold openness and cooperation, practice fair competition, actively respond to trade frictions, and achieve mutual benefit and win-win results through pragmatic cooperation with European partners.

Editor: Yang Linlin