July 21, 2024

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Chinese official slams EU probe into EV subsidies as ‘selective’

2 min read

Employees assemble new energy vehicles at an intelligent factory of electric vehicle company Leapmotor on April 8, 2024 in Jinhua, Zhejiang Province of China. 

Vcg | Visual China Group | Getty Images

BEIJING — Europe’s probe into Chinese electric cars was overly selective to the point that the results are not credible, a Chinese official claimed in an exclusive interview with CNBC on Monday.

The European Commission last week announced plans to impose tariffs on imported Chinese electric vehicles starting July 4. The provisional decision followed a monthslong probe into the role of government subsidies in Chinese EVs.

China’s electric car industry has taken off after more than ten years of development. Domestically, it’s put not only Tesla under pressure but pushed traditional automakers and startups alike into fierce competition over car tech features and price. Slowing growth at home has also encouraged Chinese electric car companies to ramp up sales strategies for Southeast Asia, the Middle East and Europe.

The Chinese side has publicly criticized the EU’s move and denied corresponding allegations — including from the U.S. — of industrial overcapacity that puts manufacturers in other countries at risk of shutting down and laying off workers.

The EU anti-subsidy probe only looked at Chinese companies, instead of businesses with the largest export volume, said Jin Ruiting, director of the Academy of Macroeconomic Research, a research institution directly under the National Development and Reform Commission. He did not specify which exporters.

The sample choice was “very selective,” Jin said in Mandarin, translated by CNBC. He claimed that was in violation of World Trade Organization rules.

The WTO declined to comment.

“In line with rules applicable, the final selection of the sample was based on the largest representative volume of production, sales or exports to the Union that can reasonably be investigated within the time available,” Olof Gill, the European…

2024-06-17 21:32:00

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