A visitor walks past a Chinese automaker’s BYD’s Seal U plug-in hybrid vehicle at a car exhibition held in Spain, Sept 13, 2024. [Photo/Xinhua]
In response to the European Union’s anti-subsidy investigation into Chinese-made battery electric vehicles, China has vowed to continue negotiation efforts until the very last moment to resolve the matter, said Chinese Minister of Commerce Wang Wentao on Thursday.
The legitimacy, compliance and fairness of the EU’s investigation into Chinese EV subsidies have come under widespread scrutiny, Wang said while hosting a China-EU Electric Vehicle Industrial Chain Enterprises Roundtable in Brussels.
This EU action not only threatens to hamper China-EU automotive industry cooperation, but also undermine Chinese companies’ confidence in investing in Europe, Wang said, adding that the investigation could also seriously impact global collaboration in addressing climate change, and severely damage the multilateral trade order based on WTO rules.
The automotive industry has been a beacon of successful cooperation between China and the EU over the past four decades, Wang said.
European automakers and parts suppliers have thrived in the Chinese market, contributing to the development of the domestic automotive value chain. Reciprocally, China has provided an open market and a fair competitive environment for EU enterprises, Wang added.
Nearly 30 leaders from Chinese and European electric vehicle, battery, and auto parts companies, as well as industry associations, attended the meeting, expressing optimism about the vast potential for collaboration along the automotive value chain.
European companies in attendance emphasized they are not afraid of competition and do not require tariff protection, opposing trade protectionism and voicing support for free trade, open markets, and fair competition.
Representatives at the meeting also called on the two sides to resolve the ongoing EU anti-subsidy investigation on Chinese EVs through constructive dialogue, preventing the trade dispute from spiraling out of control.