China EV startup Xpeng wants to bring ‘the best technology’ to Europe as the EU is set to finalize new tariffs on auto imports.
European Union is expected to vote to finalize new tariffs on Chinese-made electric vehicles, after European officials accused Chinese EV companies of benefiting from an unfair level of state support.
Yet the CEO of one of China’s leading EV startups argues that the industry’s success is due to intense local competition, not state support. “There were rumored to be close to 500 [Chinese] EV startups, probably seven to eight years ago. Now, [we’re] left with less than 10% of those names still in business,” Brian Gu, co-president at Chinese EV startup Xpeng
Chinese domestic competition created a “highly efficient” and “highly innovative” industry, Gu claimed, that’s now thriving in global markets
As developed markets in Europe and North America consider new tariffs and controls on Chinese-made EVs, Gu said Xpeng wanted a fair level playing field for it
European Union is expected to vote to finalize new tariffs on Chinese-made electric vehicles, after European officials accused Chinese EV companies of benefiting from an unfair level of state support.
Yet the CEO of one of China’s leading EV startups argues that the industry’s success is due to intense local competition, not state support. “There were rumored to be close to 500 [Chinese] EV startups, probably seven to eight years ago. Now, [we’re] left with less than 10% of those names still in business,” Brian Gu, co-president at Chinese EV startup Xpeng
Chinese domestic competition created a “highly efficient” and “highly innovative” industry, Gu claimed, that’s now thriving in global markets
As developed markets in Europe and North America consider new tariffs and controls on Chinese-made EVs, Gu said Xpeng wanted a fair level playing field for it
10 months ago
