China commerce minister to head to Europe to make EV case
A commission has begun an investigation to determine whether to impose tariffs on exports to protect European car makers
02 April 2024 - 15:59
byLeigh Thomas and Zhang Yan
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August 22 2023. Wang Wentao China’s minister of commerce, addressing the Brics business forum on behalf of China’s president Xi Jinping in Sandton, Johannesburg South Africa. Picture: Thapelo Morebudi
Paris/Shanghai — China’s commerce minister, Wang Wentao, will travel to Europe on April 7 for discussions about the European Commission’s investigation into whether China’s electric vehicle (EV) industry has benefited from unfair subsidies, four people briefed on the plan say.
Accompanied on the trip by representatives of BYD, SAIC and Geely, the companies that have already hosted commission investigators, according to one of the people with knowledge of the trip. Wentao will visit France, a French government source and two other people with knowledge of the trip said. France’s trade ministry did not immediately respond to requests for comment.
The commission has begun an investigation to determine whether to impose tariffs on exports to protect European carmakers. It is due to conclude by November, though the EU executive could impose provisional duties earlier.
China’s commerce ministry did not immediately respond to a request for comment.
A spokesperson for the commission said it did not comment on bilateral engagements between EU member states and third countries.
The commission has said China’s share of EVs sold in Europe could reach 15% of the market in 2025, based on their price discount compared with battery-powered cars made in Europe. China has contested the claim that its EV industry has boomed because of subsidies and called the EU inquiry “protectionist”.
People look at Xiaomi's first electric vehicle SU7 which is displayed at a showroom of a newly opened Xiaomi store in Beijing, China March 25, 2024. REUTERS
Analysts say factors, including China’s dominance of the battery supply chain, innovation and cut-throat competition in a crowded domestic market have also reduced prices.
Shares of Xiaomi, the Chinese designer and manufacturer of consumer electronics and now vehicles, soared in their first day of trade since the firm launched its debut electric vehicle.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
International News
China commerce minister to head to Europe to make EV case
A commission has begun an investigation to determine whether to impose tariffs on exports to protect European car makers
Paris/Shanghai — China’s commerce minister, Wang Wentao, will travel to Europe on April 7 for discussions about the European Commission’s investigation into whether China’s electric vehicle (EV) industry has benefited from unfair subsidies, four people briefed on the plan say.
Accompanied on the trip by representatives of BYD, SAIC and Geely, the companies that have already hosted commission investigators, according to one of the people with knowledge of the trip. Wentao will visit France, a French government source and two other people with knowledge of the trip said. France’s trade ministry did not immediately respond to requests for comment.
The commission has begun an investigation to determine whether to impose tariffs on exports to protect European carmakers. It is due to conclude by November, though the EU executive could impose provisional duties earlier.
China’s commerce ministry did not immediately respond to a request for comment.
A spokesperson for the commission said it did not comment on bilateral engagements between EU member states and third countries.
The commission has said China’s share of EVs sold in Europe could reach 15% of the market in 2025, based on their price discount compared with battery-powered cars made in Europe. China has contested the claim that its EV industry has boomed because of subsidies and called the EU inquiry “protectionist”.
Analysts say factors, including China’s dominance of the battery supply chain, innovation and cut-throat competition in a crowded domestic market have also reduced prices.
Shares of Xiaomi, the Chinese designer and manufacturer of consumer electronics and now vehicles, soared in their first day of trade since the firm launched its debut electric vehicle.
Reuters
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