China tells Italy: EU electric vehicle probe affecting investor confidence

admin admin | 09-18 16:30

Chinese Commerce Minister Wang Wentao expressed concerns over the EU's investigation into Chinese electric vehicles,
Chinese Commerce Minister Wang Wentao said on Monday the EU investigation into Chinese electric vehicles was seriously affecting Chinese car companies' confidence in investing in Italy, as a regional vote on additional tariffs looms.

Cooperation between the Chinese and Italian automobile sectors has a "solid" foundation and "huge" potential, Wang told Italian Economic Development Minister Adolfo Urso in a meeting in Rome, China's commerce ministry said.

China is willing to promote mutual investment between auto companies from the two countries, the Chinese ministry cited Wang as saying, in a statement released on Tuesday.
"But the EU probe into Chinese EVs has seriously affected the confidence of Chinese auto firms to invest in Italy, which is not in the long-term interests of Italy," Wang said.

Wang is visiting Europe for discussions on the EU's anti-subsidy case against China-made EVs ahead of a vote on more tariffs. He is scheduled to meet with the European Commission's Executive Vice President and Trade Commissioner Valdis Dombrovskis on Thursday.

Italy initially supported tariffs in a non-binding vote of EU members in July. But Urso told Reuters last week that he expected a negotiated solution. Italy has been seeking to woo Chinese carmakers to open factories and raise vehicle output.

"It is hoped the European Commission will respond to the calls of all parties and properly resolve the economic and trade differences between China and the EU through dialogue and consultation," Wang said.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Ola Electric responds to ARAI notice, says prices of S1 X 2 kWh scooter unchanged

Ola Electric provided an invoice dated October 6, showing a INR 5,000 discount given to customers, a...

Hyundai Motor IPO’s off to a slow start

Around 35% of the total shares in the offering are reserved for retail investors, while QIBs and NII...

Under fire, Ola Electric taps EY India to get back on track

Close to a dozen executives from EY came on-board at Ola Electric a few weeks ago on deputation for ...

Tata Motors secures 5-star BNCAP safety ratings for Nexon, Curvv, and EV models in latest crash tests

Tata Curvv.EV BNCAP testTata Motors did it again! Tata Motors has once again secured 5 star rating i...

India needs to step up manufacturing to meet Viksit Bharat goal: Volvo Grp India MD

Volvo Group India Managing Director and President, Kamal Bali. The manufacturing sector is a weak li...

Dollar pullback to help Indian rupee, weak risk appetite to weigh

Investors are now nearly certain that the U.S. Federal Reserve will deliver a 25-basis-point rate cu...