China's electric vehicle (EV) industry is on a remarkable growth trajectory, and according to Wang Wentao, the Minister of Commerce of China, the secret lies not in subsidies but in relentless innovation and robust market competition.
Speaking in Paris on Sunday, Wang addressed recent accusations from the United States and Europe alleging that China faces \"overcapacity\" in its EV sector. He dismissed these claims as unfounded, highlighting that the true strength of Chinese EV manufacturers comes from their advanced technological capabilities and well-established supply chains.
He emphasized the pivotal role of China's EV industry in the global effort against climate change, contributing significantly to green and low-carbon transformations worldwide. The Chinese government remains committed to supporting enterprises, ensuring their legitimate rights and interests are protected.
In the face of external challenges and uncertainties, Wang urged Chinese enterprises to bolster their internal strengths, prioritize innovation, enhance risk management, and maintain a focus on sustainable development. He also called for deeper cooperation with local businesses to foster mutual growth and solidify China's position as a key player in the global green transformation journey.
Reference(s):
Subsidies not reason for Chinese EVs competitive advantage: minister
cgtn.com
