What does the EU’s Net Zero Industry Act mean for Chinese renewables firms?
(China Dialogue, 19 Apr 2023) Industry insiders and analysts share their views on the new proposal to spur Europe’s clean tech manufacturing.
A newly proposed European act aimed at boosting local manufacturing capacity of clean technologies is unlikely to directly impact Chinese companies, industry insiders have told China Dialogue.
The Net Zero Industry Act intends to strengthen the competitiveness of the European Union in technologies like wind turbines, solar panels, heat pumps and carbon capture and storage, by driving domestic production. It was put forward on 16 March by the European Commission, the EU’s primary executive body.
Sources in Chinese renewable firms told China Dialogue that it will be “very hard” for the EU to build complete manufacturing chains internally, especially if it wants to hit its renewable energy targets. They also said Chinese firms have sped up expanding into other overseas markets to mitigate the impact of possible EU and US restrictions.
China Dialogue, 19 Apr 2023: What does the EU’s Net Zero Industry Act mean for Chinese renewables firms?