spot_img
HomeNewsChina auto business physique 'firmly opposes' EU probe on Chinese language EV...

China auto business physique ‘firmly opposes’ EU probe on Chinese language EV subsidies, urges objectivity Acquire US

Workers work on the meeting line of C11 electrical SUV at a manufacturing facility of Chinese language EV startup Leapmotor on April 26, 2023 in Jinhua, Zhejiang Province of China.

Vcg | Visible China Group | Getty Pictures

The European Union ought to “objectively” take into account China’s electrical car business and its extremely aggressive industrial provide chain, the top of a China car business physique on Thursday.

This comes a day after the European Fee, the manager arm of the European Union, unexpectedly launched an “anti-subsidy” investigation into China’s EV makers.

“Personally, I firmly oppose the EU’s evaluation on China’s new vitality autos,” Cui Dongshu, secretary-general of the China Passenger Automobile Affiliation, mentioned in feedback on his private WeChat account, in keeping with a CNBC translation.

“The EU ought to view the event of China’s electrical car business objectively, somewhat than arbitrarily using unilateral financial and commerce instruments to limit the event or enhance working prices of China’s electrical car merchandise in Europe,” he added.

“China’s new vitality autos exports are seeing stronger volumes not resulting from large state subsidies, however due to the extremely aggressive China industrial provide chain from robust market competitors domestically,” Cui mentioned.

He added that Chinese language automobiles exported to Europe are typically retailing at almost double the costs in mainland Chinese language markets.

“Europe is open to competitors however not for a race to the underside,” European Fee 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 one more bump within the street for EU-China relations. It additionally comes after the U.S. and Europe agreed in late Might to scale back their dependency on Beijing — somewhat than fully reduce ties.

The commission says an anti-subsidy investigation should impose measures inside 13 months from initiation. It additionally says that provisional measures have to 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 language corporations on Europe’s photo voltaic business to what may doubtlessly occur to the area’s automotive business.

Learn extra about electrical autos, batteries and chips from CNBC Professional

#China #auto #business #physique #firmly #opposes #probe #Chinese language #subsidies #urges #objectivity

RELATED ARTICLES
Continue to the category

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Recent Comments