From CNBC: 2024-06-26 07:19:58

Wan Gang, known for leading China’s electric car strategy, suggested Chinese investment in the European EV industry could benefit both sides amid trade tensions. China’s Ministry of Commerce is consulting with the EU over subsidies in Chinese electric cars. Wan emphasized the importance of investing in Europe to create local jobs.

Having worked in Germany for 15 years, Wan was inspired by China’s goal of a moderately prosperous society in 2001, pushing him to develop an early electric car strategy. Today, new energy vehicles make up over a third of new passenger cars sold in China. Wan sees electric car development as an irreversible global trend.

Read more: China’s EV architect says investing in Europe is a way forward