Geely's response to EU investigation of electric vehicle subsidies

author: FutureCar Staff    

Chinese automaker Geely has released a statement in response to the EU anti-subsidy probe on electric vehicles, which was launched in early October. The statement says the automaker supports fair competition and free trade. It comes amid rising concern in Europe's auto industry over low-price competition – especially in EVs – and rapidly rising shipments from China.

The statement said: "Geely Holdings follows all laws, regulations and supports fair market competition globally. "Geely has been a careful guardian of iconic European automotive brands for over decade, its continued investments have enhanced European and Chinese industrial capacity, creating substantial industrial synergies. "Geely Holdings regards free trade, including for EVs, as beneficial for all consumers and in helping to combat global climate change."

Its statement follows closely behind Great Wall Motor (GWM), which was the first Chinese automaker to issue a response to the European Commission's anti-subsidy investigation.

Posting on social media, GWM president Mu Feng said: "We need a fair and open trade environment."

In her state of the Union of Address in September, European Commission President Ursula von der Leyen previously said that "the global market is flooded with cheaper electric vehicles."

On the launch of the EU anti-subsidy investigation, she said that it would be "thorough, fair, and fact-based."

FutureCar Staff