Employees work on the meeting line of C11 electrical SUV at a manufacturing facility of Chinese EV startup Leapmotor on April 26, 2023 in Jinhua, Zhejiang Province of China.
Vcg | Visual China Group | Getty Images
The European Union ought to “objectively” think about China’s electrical automobile trade and its extremely aggressive industrial provide chain, the top of a China car trade physique on Thursday.
This comes a day after the European Commission, the chief arm of the European Union, unexpectedly launched an “anti-subsidy” investigation into China’s EV makers.
“Personally, I firmly oppose the EU’s assessment on China’s new energy vehicles,” Cui Dongshu, secretary-general of the China Passenger Car Association, mentioned in feedback on his private WeChat account, in keeping with a CNBC translation.
“The EU should view the development of China’s electric vehicle industry objectively, rather than arbitrarily employing unilateral economic and trade tools to restrict the development or increase operating costs of China’s electric vehicle products in Europe,” he added.
“China’s new energy vehicles exports are seeing stronger volumes not due to huge state subsidies, but because of the highly competitive China industrial supply chain from strong market competition domestically,” Cui mentioned.
He added that Chinese vehicles exported to Europe are typically retailing at almost double the costs in mainland Chinese markets.
“Europe is open to competition but not for a race to the bottom,” European Commission President Ursula von der Leyen mentioned Wednesday in her annual State of the Union tackle on the European Parliament in Strasbourg, whereas confirming the probe.
Her announcement marks yet one more bump within the highway for EU-China relations. It additionally comes after the U.S. and Europe agreed in late May to cut back their dependency on Beijing — quite than utterly lower ties.
The fee says an anti-subsidy investigation should impose measures inside 13 months from initiation. It additionally says that provisional measures should be imposed no later than 9 months, adopted by 4 months to impose definitive measures if legally warranted.
Von der Leyen in contrast the impression of sturdy competitors from Chinese corporations on Europe’s photo voltaic trade to what might probably occur to the area’s automotive trade.
Source: www.cnbc.com”