China says US, Europe accusations of ‘overcapacity’ are groundless

BEIJING: China’s electric vehicle companies do not rely on subsidies to gain a competitive advantage, Commerce Minister Wang Wentao said in a roundtable discussion in Paris on Sunday.

Wang also said that accusations by the United States and Europe of China’s “overcapacity” are groundless, according to a statement from the commerce ministry on Monday.

China’s BYD prices new version of best-selling EV lower than predecessor

Wang made the remarks at a roundtable meeting of Chinese firms, where he is set for talks that are expected to cover China’s exports of electric vehicles into the European market.

Representatives of more than 10 enterprises such as Geely , BYD and CATL attended the meeting.