Brief news
China’s electric car strategy leader, Wan Gang, has suggested that Chinese investment in the European electric vehicle industry could help both sides overcome trade problems. The Chinese Association for Science and Technology president suggested that Chinese companies could invest in Europe, creating local jobs. Wan Gang, who led China’s electric car push, emphasized that China was designing its strategy to survive, not compete. The US has boosted taxes on Chinese electric car imports this year in response to criticism that Beijing favors domestic firms over international ones. He also emphasized the need for electric car producers to alleviate range anxiety and improve road safety with driver-assist technologies.
Illustrated news
HEFEI, China— On Wednesday, China’s electric car strategy leader suggested that Chinese investment in the European electric vehicle industry may help both sides overcome trade problems.
“I believe the governments [of China and the EU] are now considering how, through negotiations, they can combine investment and commodity trade,” said China Association for Science and Technology president Wan Gang.
Wan spoke via an official English translation during a World Economic Forum “Summer Davos” panel broadcast in Dalian, China. Chinese Foreign Ministry and European Commission spokespersons were unavailable to CNBC.
The weekend saw China’s Ministry of Commerce begin negotiations with the EU over the bloc’s investigation into Chinese electric car subsidies. The EU said last month that it would raise vehicle import taxes.
“Even though we don’t export many EVs, perhaps Chinese companies can invest in Europe,” Wan said, adding that such money could create local jobs.
After becoming China’s science and technology minister in 2007, Wan led the country’s electric car push.
By 2001, when China joined the WTO, he had worked in Germany for 15 years, including at Audi, and had seen oil price instability.
Wan noted that in 2001, the Chinese government set a goal of a “moderately prosperous society,” meaning every family will soon have a car.
Wan anticipated that fuel-powered vehicles will raise pollution and compel Beijing to provide a reliable petrol supply.
He said China was designing its electric car strategy to survive, not compete.
In response to criticism that Beijing favours domestic firms over international ones, the U.S. boosted taxes on Chinese electric car imports this year.
Over 20 years ago, China invited Wan to return from Germany and research electric cars. He claimed significant air pollution in Chinese cities in 2010 spurred a local movement to go electric, starting with buses and taxis.
According to local passenger association data, more than a third of new passenger cars sold in China this year are new energy vehicles, which include battery and hybrid cars.
Wan said electric car producers need to do more to alleviate range anxiety by letting vehicles know when and where to charge automatically and improving road safety with driver-assist technologies.
He stated the world’s electric car development was “irreversible trend” and that “we must be fully determined to move on despite the vicissitudes.”
Source : CNBC News
