China, EU hold talks on hybrid and electric vehicle trade

Summary

• China’s commerce ministry said on Monday that the two sides had reached an understanding on hybrid vehicles, including a provision that export quotas for Chinese vehicles should be no lower than those allocated to other sources of imports.
• The ministry also said EU measures should not specifically target Chinese products or discriminate against Chinese companies.
• They also agreed to adjust hybrid vehicle export quotas upwards from 2025 levels, the ministry said, in a move intended to provide Chinese companies with greater opportunities and more predictable growth.

AI Generated Summary

China and the European Union have held what Beijing described as “intensive consultations” on trade in hybrid and electric vehicles, as both sides seek to address economic and trade concerns.