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World News April 8, 2024

Subsidies not reason for Chinese EVs competitive advantage: minister

Wang Wentao, China’s Minister of Commerce, stated in Paris on Sunday that the rapid growth of Chinese electric vehicle (EV) manufacturers is attributed to continuous technological advancements, a robust supply chain, and market competition rather than subsidies.

He dismissed accusations of “overcapacity” from the United States and Europe as unfounded. Wang emphasized that China’s EV industry has significantly contributed to global efforts in addressing climate change and promoting green and low-carbon transformation.

Wang pledged that the Chinese government would actively support enterprises in protecting their legitimate rights and interests in this sector.

Source – CGTN

Photo Credit – China Daily

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