China's EV Edge: Innovation, Not Subsidies
TL;DR
China's Minister of Commerce Wang Wentao stated that the rapid growth of the country's electric vehicle industry is due to constant innovations, not subsidies, and dismissed allegations of "overcapacity" by the US and Europe. The EU has launched an investigation into Chinese EV imports to determine if tariffs should be imposed to offset state subsidies. US Treasury Secretary Janet Yellen expressed concerns about Chinese industrial overcapacity and is in China for discussions on managing the bilateral economic relationship and advocating for a level playing field for American workers and firms.
Topics:businessbusiness-technology#business-technology#china#electric-vehicles#innovation#subsidies#us-china-relations
- China says 'constant innovations,' not subsidies, behind its EV edge CNBC
- China commerce minister kickstarts Europe trip with Chinese EV firms meeting Reuters
- Subsidies not reason for Chinese EVs competitive advantage: minister CGTN
- China says its EV firms do not rely on subsidies to gain competitive advantage CNA
- China pushes back at US overcapacity concerns as Yellen wraps visit EURACTIV
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