As Janet Yellen decries China’s EV overcapacity, commerce minister calls such accusations ‘groundless’
- Speaking in Paris to Chinese makers of electric vehicles and lithium batteries, Wang Wentao vows Beijing will ‘fully support and defend’ their rights
- Comments come as US Treasury secretary is applying pressure on her China trip, and war of words is expected to further ramp up in US election year
China’s commerce minister has embarked on a trip to Europe with an eye on preventing his country’s electric vehicle exports from resulting in orchestrated trade actions by Washington and Brussels.
On Sunday, Wang Wentao highlighted the country’s contribution to the world’s green energy transition and the war on climate change, during round-table discussions with more than 10 Chinese manufacturers of electric vehicles and lithium batteries in Paris.
“China’s electric-vehicle companies are competitive due to the innovation of technology and comprehensiveness of its supply-chain network,” the official Xinhua quoted Wang as saying during the meeting, while denying that government subsidies had played a role in the industry’s rapid development.
“The accusations from the US and EU about China’s overcapacity are groundless.”
“The Chinese government will fully support and defend the rights of the industry, because our electric vehicle development has made important contributions in the process of the world’s green transitioning,” Wang reportedly told the Chinese firms, without elaborating.
