China vows to help its EV champions succeed overseas despite threats of sanctions
CNN
China is promising to help its electric vehicle (EV) makers cope with international trade restrictions and build overseas supply chains, as part of a major global expansion effort for the industry.
China is promising to help its electric vehicle (EV) makers cope with international trade restrictions and build overseas supply chains, as part of a major global expansion effort for the industry. The pledge comes as China’s booming EV exports face increasing protectionist pushback in some regions, including Europe and the United States. On Wednesday, China’s Commerce Ministry posted a document signed late last year by nine government agencies, including the Foreign Ministry and the central bank, vowing to support Chinese EV makers with their globalization push. Among the 18 measures laid out in the document, the agencies said they will help Chinese companies “actively respond” to foreign trade restrictions. “[We] need timely tracking of policies and regulations related to market access, environmental protection, data protection, IP protection, and to compile and issue country-specific trade guidelines,” the document said. It also encouraged Chinese EV companies to cooperate with foreign manufacturers in technology and build supply chains that can benefit everyone.
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