EU electric vehicle probe affecting investor confidence, China tells Italy

EV hit Chinese firms: Chinese Commerce Minister Wang Wentao said on Monday the EU investigation into Chinese electric vehicles was seriously affecting Chinese car companies' confidence in investing in Italy, as a regional vote on additional tariffs looms.

Cooperation between the Chinese and Italian automobile sectors has a "solid" foundation and "huge" potential, Wang told Italian Economic Development Minister Adolfo Urso in a meeting in Rome, China's commerce ministry said.

China is willing to promote mutual investment between auto companies from the two countries, the Chinese ministry cited Wang as saying, in a statement released on Tuesday.

"But the EU probe into Chinese EVs has seriously affected the confidence of Chinese auto firms to invest in Italy, which is not in the long-term interests of Italy," Wang said.

Wang is visiting Europe for discussions on the EU's anti-subsidy case against China-made EVs ahead of a vote on more tariffs. He is scheduled to meet with the European Commission's Executive Vice President and Trade Commissioner Valdis Dombrovskis on Thursday.

Italy initially supported tariffs in a non-binding vote of EU members in July. But Urso told Reuters last week that he expected a negotiated solution. Italy has been seeking to woo Chinese carmakers to open factories and raise vehicle output.

"It is hoped the European Commission will respond to the calls of all parties and properly resolve the economic and trade differences between China and the EU through dialogue and consultation," Wang said.