Hyperdrive
China Says Innovation Built EV Success, Rejects EU Subsidy Probe
- Commerce minister traveled to Paris for EV-maker meeting
- EU prepares to impose extra tariffs on China-made EV imports
A Geely Automobile Holdings Ltd. Galaxy E8 Sedan at the Guangzhou Auto Show last year.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s automakers’ fast growth in electric cars follows innovation amid tough competition, the nation’s commerce minister said during a visit in Paris, rejecting the European Union’s probe into subsidies for the sector.
Accusations by the United States and Europe that domestic overcapacity and government aid are propelling Chinese-made EVs into Europe are “groundless,” Wang Wentao told a roundtable meeting on Sunday attended by Geely, SAIC and BYD as well as top battery maker CATL, according to a readout by the ministry.