China-EU Vehicle Trade Pact Supports Industry Stability

China and the European Union have reached an agreement regarding the trade of hybrid and electric vehicles, aiming to stabilize the automotive sector and strengthen their cooperation. The Chinese Association of Automobile Manufacturers affirmed that this consensus helps organize supply chains and improve the market environment, while adhering to principles of non-discrimination and respecting the rules of the World Trade Organization. The agreement also ensures a smooth resolution to issues related to electric vehicle support, with European review procedures on pricing commitments continuing. Data showed a record high in sales of new energy vehicles, accounting for 61.6% of all cars sold in China in September, alongside continued export growth that increased by 61.4% in the same month.

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