SAIC Criticizes EU Tariff Decision Amid Tech Innovation Plans

Chinese automaker SAIC expressed regret over the European Union's proposed 38.1% tariff on its exports. The company emphasized its reliance on technology innovation rather than government subsidies. SAIC also highlighted plans to introduce China's new energy technologies and green factories to Europe, warning of potential negative impacts on global auto industry stability.

Chinese automaker SAIC said on Thursday it regretted the European Union's tariff decision and the firm relied on technology innovation rather than government subsidies after it was slapped with a proposed 38.1% tariff for its exports to the EU.

"We are planning to bring China's new energy technologies and green factories to Europe," the automaker said in a statement. "(The) EU's decision might have relatively big disadvantages for economic and trade cooperation between China and EU and the stability of global auto industrial chains."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)