from the look of it, it is them who are having overcapacity issues in old industry. Just like the Chinese official said, the world need EVs, tens of millions of them to replace obsolete and polluting ICE cars, and there are not enough EVs produced.

that being said, China should help Europe. Unlike the US, Europe is still trying to work with China, and unlike other US "allies/vassals", Europe is still doing its best to be independent from the US. China should invest in manufacturing EVs in Europe, and maybe joint venture or even merger with European carmakers.