In response to recent global trade regulations and inquiries, the Ministry of Commerce has unveiled proactive measures to bolster the new energy vehicle (NEV) sector. Emphasizing collaboration with international partners, the guidelines aim to enhance global cooperation while navigating challenges such as ongoing investigations into subsidies for the NEV industry.
Encouraging NEV manufacturers to establish research and development hubs and after-sales service centers abroad, the guidelines also advocate for closer partnerships with overseas entities to fortify supply chains. Additionally, collaboration with shipping companies for streamlined transportation logistics is highlighted.
To support NEV exporters, financial institutions are urged to expand both domestic and overseas services, including facilitating cross-border transactions in local currency. Streamlining export procedures for NEVs and batteries further underscores the nation’s commitment to facilitating international trade in the sector.
The nation’s ascendancy as a major auto exporter, surpassing another significant exporter in 2023, has attracted scrutiny abroad. Notably, an international governing body initiated a probe into electric vehicles amidst concerns over potential subsidies, while discussions in another major economy regarding tariff hikes on certain goods, including EVs, continue to unfold.
The nation’s proactive stance underscores its dedication to fostering global collaboration and navigating trade challenges in the NEV sector. As the industry continues to evolve, such initiatives are pivotal for maintaining a conducive environment for international trade and innovation.