Ministry of Commerce (12 May) announced that the China-EU electric-vehicle price-undertaking talks have achieved a major breakthrough. The same day, the China Chamber of Commerce for Import and Export of Machinery & Electronic Products (CCCME) and the China Chamber of Commerce to the EU welcomed and endorsed the outcome.

       CCCME said a proper settlement of the EU’s anti-subsidy case against Chinese EVs is the shared expectation of upstream and downstream players on both sides. “Following several rounds of consultations in a spirit of mutual respect and dialogue, the two sides have successfully brought the case in for a soft landing,” the chamber stated. CCCME will encourage the companies concerned to use the outcome—by applying for a price undertaking—to safeguard their export rights to Europe and foster healthy industrial co-operation.

Chen Huiqing, Director of CCCME’s Legal Service Department:
       “Negotiating a price undertaking for a product as complex as an electric vehicle is extremely difficult. This result was reached through relentless effort by both sides. It will help secure and stabilise the relevant industrial and supply chains, benefit China-EU economic and trade co-operation and support the rules-based multilateral trading system.”

       The China Chamber of Commerce to the EU also “highly welcomes and fully supports’ the soft-landing achieved through consultation.
     “This important outcome responds positively to the keen concerns of industry, including the automotive sector. It not only promotes healthy and stable China-EU trade, investment and bilateral relations, but also sends a clear and powerful message to global markets: China and the EU are firmly committed to managing differences through dialogue and consultation and to safeguarding a rules-based multilateral trading system and an open world economy. As two of the world’s major economies, China and the EU…”