Recently, Yang Xueliang, Senior Vice President of Zhejiang Geely Holding Group, stated on his personal social media that Geely Holding Group will actively cooperate with the EU's anti-subsidy investigation. He emphasized that the automobile industry is global and that Geely Holding Group has always respected free trade and advocated for fair competition. Further details are as follows:
Yang Xueliang pointed out that Geely Holding Group will actively cooperate with the EU's anti-subsidy investigation. Recognizing the automobile industry as global, Geely Holding Group consistently respects free trade and promotes fair competition. They strictly adhere to laws and regulations worldwide and engage in market competition lawfully. Based on the principle of mutual benefit, Geely Holding Group has been investing in Europe for over a decade, not only preserving iconic European car brands but also fostering excellent industrial synergies. The rapid development of new energy vehicles in China offers not only delightful travel experiences for global users but also strategic measures to combat global climate change and promote sustainable green development.
Previously, the European Commission announced that, through a sampling method, they had chosen BYD, SAIC Group, and Geely Auto for an anti-subsidy investigation. The EU initiated an anti-subsidy investigation into Chinese-made electric vehicles earlier this month. Due to the numerous companies involved, the European Commission utilized a sampling method to determine the final targets for investigation.
It's worth noting that although Tesla ships more electric vehicles from China to Europe than any other company, it isn't among those under EU investigation. Furthermore, if the EU investigation finds evidence of subsidies, they will calculate an average countervailing duty, which will apply to all electric vehicles imported from China—including those produced by Volkswagen, Tesla, BMW, and other major brands.
Earlier, Li Ke, Executive Vice President of BYD, mentioned in an interview with overseas media that, despite the EU initiating an anti-subsidy investigation into Chinese electric vehicles, BYD would continue to drive robust growth in Europe. On October 23rd, Mu Feng, the president of Great Wall Motors, revealed on his personal social media that, in response to the EU's anti-subsidy investigation, Great Wall Motors was the first to submit response materials on the 11th.
