Andrew Freris, CEO of Ecognosis Advisory, has labeled accusations of overcapacity in the Chinese mainland’s new energy manufacturing industry as a “nonsensical argument.” Speaking in an interview with Bloomberg Television, Freris emphasized China’s significant role in the global new energy market.
“If excess capacity is the case, then Elon Musk must have excess capacity coming out of his ears because apparently he’s exporting quite a lot of his output,” Freris remarked, drawing a comparison to the successful export model of Tesla.
Freris’s comments come amid growing scrutiny of China’s rapid expansion in the new energy sector. Critics argue that the surge in production could lead to market saturation and economic inefficiencies. However, proponents like Freris highlight the global demand for new energy solutions and China’s ability to meet this demand effectively.
The CEO’s dismissal of overcapacity concerns underscores a broader confidence in China’s strategic investments and export capabilities within the industry. As the world shifts towards sustainable energy, China’s position as a leading manufacturer could play a pivotal role in shaping global energy markets.
Reference(s):
cgtn.com
