China's commerce minister due in Paris for electric vehicle talks
Business
China's commerce minister due in Paris for electric vehicle talks
PARIS (Reuters) - China's commerce minister Wang Wentao is due in Paris on Sunday for talks that are expected to cover China's fast growing export of cheap electric vehicles (EVs) into the European market.
Four sources briefed on Wang's trip told Reuters in late March that the discussions would focus on a European Commission investigation into whether China's EV industry has benefited from unfair subsidies.
European carmakers have a fight on their hands to produce lower-cost electric vehicles and erase China's lead in developing cheaper models.
The European Commission, the bloc's executive arm which forecasts China's share of EVs sold in Europe could reach 15% of the market in 2025, says Chinese EVs benefit from huge state subsidies and is examining whether to impose punitive tariffs.
China contests the claim its EV industry has boomed because of subsidies and has called the EU inquiry "protectionist". Analysts say factors, including China's dominance of the battery supply chain, innovation and cut-throat competition in a crowded domestic market have also reduced prices.
Wang is due on Sunday to meet Renault chief executive Luca de Meo, who is also acting chairman of the European Automobile Manufacturers' Association (ACEA), a person briefed on the meeting said.
He is also expected to attend a dinner later on Sunday with executives from the cosmetics industry, two other sources familiar with the plans said.
French Finance Minister Bruno Le Maire has said he will hold talks with Wang on Monday. The Chinese trade ministry did not respond to a request for comment.
