GAC Group, one of China's largest automakers, has publicly endorsed the recent consensus reached between China and the European Union on trade and investment issues, including in the automotive sector. In a statement released on October 14, the company said it would use the agreement as a springboard to deepen its engagement in Europe and strengthen cooperation with European partners.
The statement follows the latest round of consultations under the China-EU Trade and Investment Cooperation (TIC) mechanism, where both sides agreed on several principles covering bilateral economic and trade topics, according to Chinese automotive news outlet Gasgoo.
Support for trade stability
GAC said the principles confirmed in the talks respect facts, uphold fairness and justice, and align with World Trade Organization rules. The company argued that the consensus safeguards the legitimate rights and interests of all parties, addresses reasonable concerns, and lays a solid foundation for long-term, stable cooperation between enterprises on both sides.
The automaker also said the agreement helps avoid an escalation of trade frictions, maintains the stability and smooth operation of the automotive supply chain, and creates a more predictable environment for companies engaged in trade and investment.
GAC's statement emphasized its transformation from a "made in China" manufacturer to a brand trusted globally, highlighting its strategic focus, technological accumulation, and deep localisation efforts as it pushes to expand overseas.
European ambitions
GAC said it will continue to operate in full compliance with laws and regulations, and will take the consensus on hybrid vehicle trade consultations as an opportunity to cultivate the European market. The company plans to deepen mutually beneficial cooperation with European partners and deliver quality products and services to consumers, contributing to the joint development of the automotive industries in China and Europe.
The statement did not specify which GAC models might be affected or provide details on its European rollout plans. GAC currently sells vehicles under its own brand as well as through joint ventures with Toyota and Honda, and has been expanding its presence in overseas markets, including Europe, in recent years.
The development comes as Chinese automakers face increasing scrutiny in Europe over potential tariffs on electric vehicles (EVs). The European Commission has been investigating subsidies to Chinese EV makers, and the recent consultations are seen as an effort to manage tensions and avoid punitive duties that could disrupt trade.
