German cars are the best in the world, its finance minister insists: 'They do not have to fear Chinese competition'

German carmakers do not have to be concerned about competition from China, German Finance Minister Christian Lindner told CNBC.

Christian Lindner , Federal Minister of Finance, is on his way to a bilateral meeting with US Treasury Secretary Yellen at the headquarters of the World Bank.German carmakers do not have to fear competition from China and are still considered the best in the world, German Finance Minister Christian Lindner told CNBC.

Competition in the electric vehicle, or EV, market in China and Europe, as well as the U.S., has been heating up in recent months. More and more Chinese companies are making headway when it comes to EVs, and China's BYD has been inChina's EV sector has seen substantial growth, sending a large amount of vehicles to other markets that often come at a more accessible price point.

When asked what these measures could look like, Lindner said that all options were on the table. This echoed comments from Yellen, who earlier this month told CNBC that she

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