Chinese commence chambers on Monday welcomed the latest progress made in the electric vehicle talks between China and the European Union (EU).
China and the EU have agreed on the necessity of providing general guidance on price undertakings for Chinese companies exporting battery electric vehicle (BEV) passenger cars to the EU, according to China's Ministry of Commerce on Monday.
The statement noted that in the spirit of mutual respect, the two sides have conducted multiple rounds of consultations in order to implement the consensus of the China-EU Summit and properly resolve the EU's anti-subsidy case concerning Chinese BEVs.
To that end, the European Commission on Monday issued guidance on the submission of price undertaking offers, covering various aspects that should be addressed in any such offer, including the minimum import price, sales channels, cross-compensation, and future investments in the EU.
Each price undertaking offer is subject to the same legal criteria, and the commission will conduct each assessment in an objective and fair manner, following the principle of non-discrimination and in accordance with WTO rules, the commission said.
The China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) said in a statement on Monday that the proper resolution of the EU's anti-subsidy case against Chinese electric vehicles (EVs) is a shared expectation among industry players across the EV value chain, in both China and the EU.
"Talking about 'price undertakings' is extremely difficult for a complex product like electric vehicles. This achievement is the result of tireless efforts by both China and the EU. It will contribute significantly to the safe and stable development of related industrial and supply chains between China and the EU, and to the overall progress of China-EU economic and trade cooperation and the international economic and trade order," said Chen Huiqing, director of the Legal Service Department at the CCCME.
The China Chamber of Commerce to the European Union said on Monday that it welcomes the progress China and the EU have made in resolving the EV case through dialogue, noting that this will boost market confidence, improve the investment environment for Chinese EV firms in Europe, and support deepened China-EU cooperation in technological innovation and green transition.
Chinese commerce chambers welcome latest development in China-EU EV talks
Chinese commerce chambers welcome latest development in China-EU EV talks
