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China’s Sweeping Initiatives in Climate Action

China's Sweeping Initiatives in Climate Action

China is making a huge contribution to the fight against climate change by drastically reducing the cost of green energies, a top German executive has said in an exclusive interview with Xinhua.

Via scale production, China has driven down costs to such a low level within the space of 10 years that solar power has now become the cheapest energy source, said Herbert Diess, chairman of the supervisory board of Infineon Technologies.

Diess said the reduced price is “a huge benefit”, and that when looking back in a few decades’ time, it will probably be China that has contributed most to tackling climate change.

Like wind and solar power, new energy technologies are expected to become “cheaper by the month” as Chinese automakers intensify competition in the auto market, Diess noted.

He echoed some German automakers by explicitly standing against European Union (EU) measures, which would impose additional import tariffs on Chinese EVs.

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This is “the wrong way to go now,” Deiss said, explaining that if one side decides to increase tariffs, the other side will follow suit and cars will become more expensive.

“In the end, European car makers can’t be in favour of import taxes here because it would also hurt them,” he added.

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The German auto industry is investing in China because it has become “the new cluster for new energy vehicles,” he underlined.

Not only does China have the largest new energy vehicle market, but also the most competitive auto companies, components manufacturers and cutting-edge technologies such as autonomous driving.

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“If you want to be long-term successful, you have to be in China now — and not only for manufacturing. You also have to do R&D in China.”

Meanwhile, Chinese automakers who want to win over the EU market should “become local players, understand the local customer, make a plan over a decade or two, and not expect that in half a year you can win the game,” Deiss said.

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