Chinese electric vehicle giant BYD and its peers have received a warm welcome from France as French finance minister Bruno Le Maire said on Monday the government is open to the possibility of the companies establishing their factories in the country. “France welcomes all industrial projects. BYD and the Chinese auto industry are very welcome in France,” Le Maire said at a meeting with a group of automotive business leaders in Paris on the sidelines of a two-day state visit by Chinese President Xi Jinping. In a meeting with French leader Emmanuel Macron on Monday, Xi said claims that state subsidies for electric vehicles provided by Beijing are creating distortions in global markets and trade are false. “China’s new energy industry has made real progress in open competition and represents advanced production capacity. It not only increases global supply and alleviates the pressure of global inflation, but also contributes significantly to global climate response and green transition,” said Xi. EU Commission chief Ursula von der Leyen also joined the two leaders for a meeting, saying Europe “will not waver from making tough decisions needed to protect its market.” Brussels’ anti-subsidy probe into Chinese EV imports, initiated last September, is expected to conclude within the coming weeks. [Reuters]
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