British Electric Vehicle (EV) professionals attending the just-concluded London EV Show have expressed their expectation of a brighter future for China-UK cooperation in the field of EV.
British Trade Secretary Jonathan Reynolds said that UK has no plans to follow the European Union's (EU) decision to impose tariffs on Chinese EV imports, following the European Commission's announcement in early October that it passed a vote to impose punitive tariffs on Chinese battery EVs.
Participants at the show have hailed the decision of the UK government, saying that an increasingly open market is the foundation for the growth of the EV industry in all countries.
As China and the UK enhance exchanges and cooperation in the EV sector, both countries have achieved win-win outcomes, they said, stressing that this growing cooperation is expected to drive technological progress and industry development.
"I think there's a lot of innovation happening, for myself I have had a keen eye on what the Chinese market is doing. Certainly, a lot of technology and innovation coming from China. I think as time progresses, the cost of EVs will come down and certainly with the UK regulation, the market will certainly open up. I certainly don't believe tariffs are the way to go," said an EV professional.
Another industry professional said that tariffs would only hinder the development of electric vehicles, highlighting that cooperation and communication bode well for a better future.
"I just think we need that flexibility moving forward. I don't think we should be tied down to tariffs. I think that's going make people transferring over difficult. I've been working with Chinese manufacturers now for best part of six years and we've had no issues, so it's all been positive and the communication is getting back from both sides as well which makes us ever more of a brighter future moving forward," he said.
The three-day exhibition, which concluded on Thursday, has gathered more than 300 exhibitors to showcase a broad range of products, services and ideas in the EV industry.
British EV professionals eyeing broader China-UK cooperation
A cooperation conference was held on Tuesday at the ongoing second China International Supply Chain Expo (CISCE) in Beijing in an effort to promote economic cooperation between Hungary and central China's Hubei Province.
As the Country of Honor, Hungary has showcased its leading industries, unique resources, and national brand image at the country's exhibition booth.
Meanwhile, as province of honor, Hubei is bringing 28 enterprises to showcase their products through 70 exhibits.
As the only event jointly organized by the Country of Honor and the Province of Honor, China (Hubei) - Hungary International Supply Chain Cooperation Conference was held to promote economic cooperation between the two sides.
Since the beginning of this year, Hubei's imports and exports to Hungary have increased by 8.1 percent, which is a reflection of China's high-level opening up.
"Today, China stands as Hungary's most important trading partner outside Europe. Since 2015, bilateral trade turnover has nearly doubled, reflecting a partnership built on trust, mutual benefit and a shared vision for a sustainable goal," said Jenei Gabor, CEO of Hungarian Export Promotion Agency.
This year also marks the beginning of the upgrade of ties between China and Hungary.
China and Hungary decided on May 9 to elevate bilateral relations to an all-weather comprehensive strategic partnership for the new era.
The decision was announced during the talks between visiting Chinese President Xi Jinping and Hungarian Prime Minister Viktor Orban.
The China Council for the Promotion of International Trade (CCPIT), a national foreign trade and investment promotion agency, said that it will continue to serve as bridge between enterprises and policies, and facilitate more Hungarian products to enter into China.
"The CCPIT will fully leverage its role in connecting governments and enterprises, integrating domestic and international markets, and facilitating supply and demand. It will actively assist more high-quality Hungarian products in entering the Chinese market," said Ren Hongbin, CCPIT chairman.
The results are obvious as Hubei Province has reached a large number of cooperation deals during the expo, including 44 signed projects, ranging from new energy vehicles, high-end equipment, to artificial intelligence and more.
Compared with the previous edition in 2023, this year's CISCE boasts a higher number of exhibiting companies, more international participants, and a larger crowd of visitors.
With the 620 companies and institutions on board from 69 countries, regions and international bodies, the lineup includes 78 Fortune Global 500 firms, 86 Chinese Fortune 500 entities, and an anticipated attendance of professionals from over 100 countries in political, business and academic circles.
Cooperation conference held to promote economic cooperation between Hungary, Hubei Province
