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Business > Foreign Business
Beijing hits 'overcapacity' accusations of US, EU
By Global Times
Apr 10, 2024 12:18 am

CHINESE officials have hit out at US and European accusations of 'overcapacity' in China's electric vehicle (EV) industry in recent days, while Chinese experts believe that playing the 'overcapacity' card shows the West's insecurity over China's competitive advantage.

Chinese Commerce Minister Wang Wentao on Sunday hit out at Western accusations of 'overcapacity' in China's EV industry, saying that China's advantage is built on innovation, not subsidies, according to China's ministry of commerce.

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