China’s green industries have an unlikely ally in Saudi Aramco — the world’s largest oil company — who praised the world’s second-largest economy for making solar panels and electric vehicles affordable.
“China really helped by reducing the cost of solar energy,” Amin Nasser, the CEO of state-owned Saudi Aramco, said at the World Energy Congress in Rotterdam on Monday, according to the Financial Times.
“We can see the same now in electric vehicles. Their cost is one-third to one-half the cost of other electric vehicles,” Nasser added, as he called for globalization and collaboration, per the FT.
Because China has made these green products so affordable, they will help the West achieve its target of cutting carbon emissions to a net zero level by 2050, said Nasser.
The West has hit out against China’s overcapacity
Nasser’s comments came amid the West’s criticism that China has been dumping cheap solar panels and EVs on the global markets.
Earlier this month, US Treasury …