Volkswagen boss backs EU plan to boost domestic European industry
Volkswagen CEO Oliver Blume has expressed support for EU initiatives to protect European car manufacturers from low-cost Chinese competition. The company is currently undergoing a major restructuring program involving significant job cuts amid high energy costs and market pressure.
Why it matters
This reflects the growing tension in the global automotive industry as legacy European manufacturers struggle to compete with Chinese electric vehicle expansion.
VW is exhibiting at the Paris show for the first time in 20 years, unveiling its new all-electric ID Tiguan. Photograph: Volkswagen AG VW is exhibiting at the Paris show for the first time in 20 years, unveiling its new all-electric ID Tiguan. Photograph: Volkswagen AG Volkswagen (VW) Volkswagen boss backs EU plan to bolster domestic European industry Oliver Blume says ‘Made in Europe’ rules to counter rapid rise of lower-price Chinese brands ‘must reward real value creation’
Prefer the Guardian on Google The boss of Volkswagen has backed EU proposals to boost its domestic industry, arguing European carmakers need to be able to “compete under comparable conditions” with Chinese rivals.
Oliver Blume said “Made in Europe” rules from the EU “must reward real value creation in Europe”, speaking in Paris before the motor show this week.
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