Hey, gearheads and eco-warriors! 🌿🔋 In the latest twist in the electric vehicle saga, China's top industry body is urging the European Commission to reconsider its recent findings in an anti-subsidy probe into Chinese battery electric vehicles (BEVs). They hope for a balanced solution that benefits both sides – because who doesn't love a win-win? 🤝
\"Trade defense measures will harm all sides involved. The strength and growth of the EU and Chinese BEV industries lie in collaboration, not conflict,\" said Shi Yonghong, vice president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME), during a press conference in Brussels on Friday.
The CCCME, representing 12 Chinese BEV exporters, is raising concerns after the European Commission slapped provisional tariffs of up to 37.6% on Chinese electric car makers on July 4. 🚗💰 The Commission alleges that Chinese BEV producers benefit from subsidies that pose a threat to EU manufacturers.
Questioning Fairness 🤔
Shi pointed out that the Commission's determination is \"unlawful,\" claiming that the investigation's sample size is too small to be representative. Instead of selecting producers with the largest export volumes, the Commission chose three manufacturers accounting for only 39% of Chinese exports to the EU.
He also mentioned that the Commission overlooked imports of foreign-branded BEVs made in China, which make up about 70% of the Chinese BEVs entering the EU. \"We urge the Commission to strictly abide by the laws of the World Trade Organization and the EU and conduct this investigation in a manner of objectivity, fairness, and transparency,\" Shi emphasized. 🌐⚖️
Innovation Over Subsidies 🚀
According to data from the China Association of Automobile Manufacturers, China's production and sales of new energy vehicles grew over 30% year-on-year in the first half of 2024. 🔥 The market share of new energy vehicles in China reached a whopping 35.2% by June!
So, what's fueling this rapid growth? Shi attributes it to technological innovation, a robust supply chain, and fierce competition – not government subsidies. Wei Wenqing, deputy secretary-general of the association, added that China's policies have set ambitious targets for reducing fuel consumption and boosting new energy vehicles, pushing companies to up their tech game. 🏎️⚡
\"It's hoped that the European side will recognize that China's competitive advantage in electric vehicles doesn't come from subsidies,\" said Ministry of Commerce spokesperson He Yongqian last week.
Let's Keep It Friendly 🌍🤗
The EU's decision hasn't been without its critics. Even within Europe, automakers like Volkswagen have voiced concerns. \"The negative effects of this decision outweigh any benefits for the European, and especially the German automotive industry,\" Volkswagen warned.
Wei highlighted that open competition and free trade have historically led to progress in the automotive world. European brands like Volkswagen, Mercedes-Benz, BMW, and Audi have thrived in the Chinese market, pushing local firms to innovate and excel. \"European and Chinese automotive industries have grown together through intense competition,\" he noted.
Looking ahead, Shi sees bright prospects for cooperation between China and the EU in technology and research. \"China and the EU are comprehensive strategic partners with extensive common interests,\" he said, urging the Commission to consider the bigger picture. 🌟
So, what's the takeaway? Collaboration over conflict might just drive us all into a greener, electrified future. 🚗🌿 Let's hope both sides steer towards mutual growth!
Reference(s):
Chinese industry body urges EU to seek balanced solution in BEV probe
cgtn.com
