The European Commission has recently imposed additional duties of up to 37.6% on Chinese-made electric vehicles (EVs) starting July 5. This move is part of a broader pattern where China’s solar products have faced multiple tariffs from Europe and the U.S. over the past decade.
These protectionist measures stem from Western concerns about China’s dominant position in emerging industrial sectors and an attempt to redefine \"free trade\" from a Western-centric perspective. The narrative of \"overcapacity\" is often cited as a justification, but it largely reflects underlying fears rather than actual market conditions.
At the Summer Davos Forum on June 25, Liu Zhenmin, China’s special envoy for climate change, highlighted the nation’s significant progress in renewable energy industries such as solar photovoltaic (PV), wind power, EVs, and batteries. Over the past decade, China has successfully reduced production costs, enhanced industrial efficiency, and contributed substantially to global energy transitions and emissions reductions.
Contrary to Western assertions, the world still faces a substantial gap in renewable energy capacity. Achieving the 1.5-degree Celsius target set by the Paris Agreement requires a massive expansion of renewable energy infrastructure. According to the International Renewable Energy Agency's July 2023 report, renewable power capacity needs to soar from 2,813 GW in 2020 to 33,216 GW by 2050. Additionally, electric vehicles are projected to make up over 90% of all road transport by 2050.
China’s technological advancements in new energy products are pivotal for global sustainability. With exports of electric vehicles, lithium batteries, and solar cells exceeding 1 trillion Chinese yuan ($137.5 billion) in 2023, China has positioned these as its new \"Big Three\" in foreign trade. This shift not only showcases China’s ability to produce affordable and competitive renewable energy solutions but also reinforces its role in driving global sustainable development.
As the world strives to meet ambitious climate goals, the need for expanded renewable energy capacity remains critical. China’s continued innovation and export of renewable technologies are essential components in bridging the gap towards a greener, more sustainable future.
Reference(s):
cgtn.com
