Automotive News Europe — 2024-04-08
Automotive Industry
Wang Wentao met representatives from more than 10 enterprises including BYD and Geely.
China's commerce minister has started a trip to Europe by meeting top Chinese automaker BYD and the battery maker CATL, as he prepares to discuss an ongoing probe by the bloc into whether China's EV industry has benefited from unfair subsidies.
Wang Wentao held a roundtable meeting in Paris on Sunday, 7 April 2024, with representatives from more than 10 enterprises that also include Geely, according to a statement published by the commerce ministry on Monday, 8 April 2024.
During the meeting, he reiterated Beijing's stance that Chinese EV companies do not rely on subsidies to gain a competitive advantage and said accusations by the US and Europe of "overcapacity" were groundless.
"China's electric vehicle companies rely on continuous technological innovation, perfect production and supply chain system and full market competition for rapid development, not relying on subsidies to gain competitive advantage," Wang said.
Wang also told them the Chinese government would actively support companies to safeguard their legitimate rights and interests.
Four sources briefed on Wang's trip told Reuters in late March 2024 that the discussions would focus on the European Commission investigation that began late 2023 and aims to determine whether to impose tariffs on exports to protect European automakers.
China has a significant lead over European companies in developing low-cost EV models in particular.
The investigation is due to conclude by November 2024, although the EU executive could impose provisional duties earlier.
Wang was also due on Sunday 7 April 2024 to meet Renault CEO Luca de Meo, who is also acting chairman of the European industry group ACEA, Reuters reported on Sunday (7 April 2024) citing a person briefed on the meeting.
He was also expected to attend a dinner later on Sunday (7 April 2024) with executives from the cosmetics industry, two other sources familiar with the plans said.
French Finance Minister Bruno Le Maire has said he will hold talks with Wang on Monday, 8 April 2024.
The Chinese trade ministry did not respond to a request for comment.
US Treasury Secretary Janet Yellen is currently in China where she has said global concerns are growing over China's excess industrial capacity, noting it is not healthy for China and is hurting producers in other countries.