BEIJING, April 8 (Reuters) - China's electric vehicle
companies do not rely on subsidies to gain a competitive
advantage and accusations by the U.S. and Europe of
"overcapacity" are groundless, Commerce Minister Wang Wentao
said on Sunday in Paris.
Wang made the remarks at a roundtable meeting of Chinese
firms in Paris, where he is set to discuss China's exports of
EVs into the European market among other things.
Representatives of more than 10 enterprises such as Geely
, BYD and CATL attended the
meeting, according to a statement from the commerce ministry on
Monday.
"China's electric vehicle companies rely on continuous
technological innovation, perfect production and supply chain
system and full market competition for rapid development, not
relying on subsidies to gain competitive advantage," Wang said.
"The United States and Europe and other accusations of
"overcapacity" are groundless."
Wider discussions will centre around the European
Commission's investigation into whether China's EV industry has
benefited from unfair subsidies.
The Commission has begun an investigation to determine
whether to impose tariffs on exports to protect European car
makers. It is due to conclude by November, although the EU
executive could impose provisional duties earlier.
U.S. Treasury Secretary Janet Yellen is currently in China
where she has said global concerns are growing over China's
excess industrial capacity, noting that it is not healthy for
China and it is hurting producers in other countries.