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Subsidies not reason for Chinese EVs competitive advantage: minister


 , Updated 16:39, 08-Apr-2024

Wang Wentao, minister of Commerce of China, said in Paris on Sunday that Chinese electric vehicle (EV) manufacturers' rapid development is a result of constant tech innovations, a well-established supply chain system and 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 give 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.

(Cover: A view of the Ministry of Commerce of China, Beijing, China. /CFP)

Source(s): Xinhua News Agency
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