China welcomes EU talks on setting price of electric vehicles

China welcomes the European Union's efforts to restart negotiations on price undertakings concerning Chinese-made battery electric vehicles and appreciates its return to resolving differences through dialogue, the Ministry of Commerce said on Thursday.

Price undertakings serve as a potential alternative to the EU imposing additional tariffs on Chinese EVs starting late 2024. Under such an arrangement, China would commit to selling electric cars in the EU market at or above a minimum price agreed upon by both sides.

He Yadong, spokesman for the ministry, said at a news conference that China and the EU held a trade remedy dialogue this week, with further consultations scheduled for next week.

"I wish to emphasize that the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, entrusted by different types of Chinese enterprises, has proposed a solution reflecting the industry's collective position," He said.

"Both sides have engaged in various consultations on this basis and achieved some progress."

He cautioned that if the EU consults with individual companies separately while negotiating with China, it will undermine mutual trust and hinder the overall efficiency of the process.