Volkswagen’s CEO, Oliver Blume, has urged the European Union to reconsider its planned tariffs on electric vehicles (EVs) made in China, suggesting that the EU should account for investments made in Europe instead of imposing punitive measures. In an interview with Bild am Sonntag, Blume emphasized, “Rather than punitive tariffs, the focus should be on mutually recognizing investments. Those who invest, create jobs, and collaborate with local companies should benefit from tariff considerations.”
Despite pushback from Germany and its automakers, the EU is set to implement duties on Chinese-made EVs of up to 45% starting next month, which could cost car manufacturers billions. The EU Commission, responsible for trade policy, intends to address perceived unfair Chinese subsidies following a year-long investigation, while also indicating it would continue discussions with Beijing.
Blume cautioned that retaliatory tariffs from China could negatively impact European carmakers, highlighting the potential consequences of the EU’s actions.
