On January 18, 2024, at the China-made BYD brand launch conference held in Jakarta, the newly launched BYD Seal was displayed, and 2 other types of battery-powered vehicles (EV, electric vehicles) were launched at the same time, which will be launched in January 2024. On sale in Jakarta on the 18th. Indonesia, investing US$1.3 billion. (Photo by BAY ISMOYO/AFP) (Photo by BAY ISMOYO/AFP via Getty Images)
Ismoyo Bay | AFP | Getty Images
China’s Commerce Minister Wang Wentao said that the rapid rise of Chinese electric vehicle companies is not due to subsidies, but because of “continuous innovation.”
China’s Ministry of Commerce says US and European accusations of “overcapacity” are groundless report on Monday. Wang also attributed China’s electric vehicle advantage to “a complete supply chain system and market competition.”
Wang Yi made the remarks during a roundtable discussion in Paris on Sunday with representatives from more than 10 Chinese companies including electric vehicle makers Geely, BYD and electric vehicle battery maker CATL. statement Information from the Ministry of Commerce is displayed.
Roundtable discussion centered on EU launches anti-subsidy investigation into China’s imports of electric vehiclesamong other topics, the statement said.
king famous China’s electric vehicle industry “has made important contributions to the global response to climate change and green and low-carbon transformation.” He also said that the Chinese government would protect the “legitimate rights and interests” of Chinese companies.
The EU launched an investigation in October to determine whether tariffs should be imposed on battery electric vehicles imported from China “to offset state subsidies and create a level playing field” following a sharp increase in imports.
European Commission President Ursula von der Leyen said in September that “the global market is flooded with cheaper electric cars” and that prices are “artificially low” due to “huge state subsidies”.
U.S. Treasury Secretary Janet Yellen on Saturday She said she was “particularly concerned” about the impact of China’s industrial overcapacity on the U.S. economy.
Yellen is currently attending a conference in China Handle matters including managing bilateral economic relations between China and the United States and promoting U.S. interests.
Yellen said Washington and Beijing would hold “intensive exchanges” to “facilitate discussions around macroeconomic imbalances, including their relationship to overcapacity.” explain After meeting with Chinese Vice Premier He Lifeng on Saturday.
“I intend to use this opportunity to advocate for a level playing field for American workers and businesses,” she said, adding that “abandoning policies that contribute to overcapacity will benefit the U.S., China and the global economy.”
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