04/08/2024
China says 'constant innovations,' not subsidies, behind its EV edge - https://www.cbctimes.com/?p=121608
Newly launched BYD Seal is displayed during the launch of the Chinese-made BYD brand in Jakarta, on January 18, 2024, and at the same time introduced 2 other types of battery-powered vehicles (EV, electric vehicle) that will be sold in Indonesia, with an investment of 1.3 billion US dollars. (Photo by BAY ISMOYO / AFP) (Photo by BAY ISMOYO/AFP via Getty Images)
Bay Ismoyo | Afp | Getty Images
China’s Minister of Commerce Wang Wentao has said that the speedy rise of the country’s electric vehicle firms was not because of subsidies, but due to “constant innovations.”
The allegations about “overcapacity” by the U.S. and Europe are without merit, he said, state news agency Xinhua reported Monday. Wang also attributed China’s EV edge to “well-established supply chain system and market competition.”
Wang made the remarks during a roundtable discussion in Paris
Newly launched BYD Seal is displayed during the launch of the Chinese-made BYD brand in Jakarta, on January 18, 2024, and at the same time introduced 2 other types of battery-powered vehicles (EV, electric vehicle) that will be sold in Indonesia, with an investment of 1.3 billion US dollars. (Photo....