Beijing Pledges Support for EV Battery Makers Amid EU Probe
China’s commerce minister on April 7 met with a group of Chinese electric vehicle companies operating in Europe to discuss the EU’s ongoing countervailing duty investigation on EV batteries from China (see 2403150047). Minister Wang Wentao told battery makers Geely,…
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BYD, CATL and others that EU and U.S. accusations of EV "overcapacity" in China are “groundless,” and that Beijing will “actively support enterprises in safeguarding their legitimate rights and interests.” The companies “expressed their gratitude to the Ministry of Commerce for its strong support,” according to an unofficial translation of a readout of the meeting, and said they will “practice fair competition, actively respond to trade frictions, and achieve mutual benefit and win-win results through pragmatic cooperation with European partners.”