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BEIJING (Reuters) – China’s electric vehicle (EV) companies do not rely on subsidies to gain a competitive advantage, and accusations of “overcapacity” by the United States and Europe are unfounded, officials say. Commerce Minister Wang Wentao said in Paris on Sunday.
Wang made the remarks at a roundtable of Chinese companies in Paris, where he is expected to discuss issues such as China’s export of electric vehicles to the European market.
Representatives from more than 10 companies attended the meeting, including Geely, BYD (SZ:) and CATL, according to a Monday statement from the Ministry of Commerce.
“Chinese electric vehicle enterprises do not rely on subsidies to gain competitive advantage, but rely on continuous technological innovation, perfect production and supply chain systems, and perfect market competition for rapid development. ,” Wang said.
“Accusations of ‘overcapacity’ in the US, Europe and elsewhere are baseless.”
The broader debate will center on the European Commission’s investigation into whether China’s EV industry is benefiting from unfair subsidies.
The European Commission has launched an investigation to determine whether to impose tariffs on exports to protect European car manufacturers. The deal is expected to be concluded by November, but the EU executive may impose interim tariffs sooner.
US Treasury Secretary Janet Yellen, currently on a visit to China, said there is growing global concern about China’s excess industrial capacity, which is not healthy for China and is hurting producers in other countries. He pointed out that there was.
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