Volkswagen CEO makes 'China request' to EU after record layoffs
Volkswagen CEO Oliver Blume has urged the European Union to create a regulatory framework that protects European automakers from low-cost Chinese competition. This comes as the company initiates its largest-ever restructuring and job-cut program.
Why it matters
The request underscores the growing tension between European industrial protectionism and the rapid global expansion of Chinese electric vehicle manufacturers.
Volkswagen chief executive officer (CEO) Oliver Blume has called on European policymakers to establish the necessary regulatory framework to ensure the German automaker’s sweeping restructuring succeeds. According to a report by Reuters, addressing an event dubbed "For Europe" on the sidelines of the Paris motor show, Blume asked the European Union to make efforts to shield domestic industry from low-cost Chinese rivals.Volkswagen CEO's 'China warning' to European UnionBlume framed the turnaround as a collective duty, arguing that while corporations must sharpen their competitive edge and generate attractive business prospects, public officials are equally responsible for laying down viable operating conditions.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in