China pushes EV makers to localize in overseas markets

Move meant to ease Western concerns about country's dominance

20240207N BYD

Chinese automakers like BYD are flooding some markets with inexpensive EVs. © Reuters

SHUNSUKE TABETA, Nikkei staff writer

BEIJING -- The Chinese government released guidelines to support its EV industry on Wednesday, calling on automakers to conduct research and development overseas and participate in setting international standards.

The move appears to be in response to growing concerns in Europe and the U.S. about rising sales of inexpensive electric vehicles from the country.

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