Geely's response to EU investigation on 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 emphasizes Geely's support for fair competition and free trade. This comes at a time when Europe's auto industry is becoming increasingly concerned about low-price competition, particularly in the electric vehicle sector, and the growing number of shipments from China.

The statement from Geely highlights the company's commitment to following all laws and regulations and supporting fair market competition globally. It also mentions Geely's role as a guardian of iconic European automotive brands for over a decade, with its investments enhancing both European and Chinese industrial capacity and creating significant industrial synergies. Geely Holdings views free trade, including for electric vehicles, as beneficial for consumers and essential in combating global climate change.

Geely's statement follows closely behind Great Wall Motor (GWM), which was the first Chinese automaker to respond to the European Commission's anti-subsidy investigation. GWM President Mu Feng posted on social media, expressing the need for a fair and open trade environment.

In September, European Commission President Ursula von der Leyen mentioned in her State of the Union Address that the global market is flooded with cheaper electric vehicles. She also stated that the EU anti-subsidy investigation would be thorough, fair, and fact-based.

FutureCar Staff