Chinese Commerce Minister: Tech Innovation, Not Subsidies, Powers EV Boom 🚗⚡

Hey there, tech enthusiasts! 🤖 Ever wondered why China's electric vehicles (EVs) are taking the world by storm? 🌍 On Sunday, Wang Wentao, the Minister of Commerce of China, spilled the tea in Paris! ☕

Wang made it clear that the rapid rise of Chinese EVs isn't because of subsidies. Nope! It's all about constant tech innovations, a killer supply chain, and good old market competition. 🚀💡

He also slammed claims from the US and Europe about \"overcapacity,\" calling them totally groundless. 🙅‍♂️

\"Our EV industry's growth is a major boost to the global fight against climate change and the shift towards green, low-carbon living,\" Wang said. 🌱♻️

He encouraged Chinese companies to amp up their game by focusing on innovation, beefing up risk management, and embracing green development. 🌟

But that's not all! Wang urged enterprises to team up with local businesses, seek common ground, and be active players in the global green transformation. 🤝🌐

Looks like China's gearing up to drive the future of eco-friendly transportation! Buckle up! 🚗⚡

Reference(s):

Subsidies not reason for Chinese EVs competitive advantage: minister

cgtn.com