WM Motor Shen Hui Chinese new energy vehicle manufacturers shocked Europeans at the Munich Auto Show

WM Motor, a Chinese electric vehicle manufacturer, surprised Europeans at the Munich Auto Show

【Phoneauto News】Recently, Ursula von der Leyen, President of the European Commission, announced that the European Commission has launched an investigation into subsidies received by Chinese electric vehicle manufacturers. On September 15th, Phoneauto noticed that Shen Hui, founder, chairman, and CEO of WM Motor, wrote a post stating that Chinese new energy vehicle manufacturers scared Europeans at the Munich Auto Show.

Shen Hui said, “On one hand, Ursula von der Leyen, President of the European Commission, announced that the European Commission will launch an anti-subsidy investigation into Chinese electric vehicles, claiming that this is to protect itself from the impact of Chinese electric vehicle manufacturers benefiting from national subsidies. On the other hand, Germany announced a €100 billion (approximately RMB 775 billion) incentive plan to support the development of the German electric vehicle industry. It seems that the performance and strength of Chinese new energy vehicle manufacturers really scared Europeans at the Munich Auto Show.”

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Meanwhile, Phoneauto also noticed that the Global Times published a commentary on the investigation launched by the European Union, stating, “The grounds for this anti-subsidy investigation by the European Union are unfounded and do not correspond to the facts. The prices of Chinese electric vehicles in Europe are much higher than in China, while the prices of some European electric vehicles in the Chinese market are lower than in Europe. Chinese electric vehicles are currently developing rapidly in the European market, and this has nothing to do with subsidies. Chinese electric vehicle companies have lowered costs and improved quality through technological progress and innovation, truly achieving value for money, and winning the favor of consumers.”

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