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German Minister and Car Manufacturers Navigate Chinese EV ...
2024-05-29 06:26:34

German Minister and Car Manufacturers Navigate Chinese EV Tariffs

Image used under license from Shutterstock.com

German Transport Minister Volker Wissing opposes imposing tariffs on Chinese electric cars, stressing the value of international competition for German manufacturers. However, fears loom among German carmakers like BMW, Volkswagen, and Mercedes-Benz over potential Chinese retaliatory measures due to the EU's tariff plans on Chinese EVs.

Additionally, Wissing criticizes CDU's stance on the combustion engine phase-out, advocating for a technology-neutral approach to reduce CO2 emissions. On the other hand, Ferrari's CEO Benedicto Vigna views the Chinese EV challenge as a chance for European automakers to enhance their competitiveness, likening it to the dynamic environment of Formula 1 racing.

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Volkswagen (VW) is setting its sights on launching an electric microcar priced at around 20,000 euros in 2027 to promote electromobility accessibility. The company aims to independently develop and produce the vehicle in Europe, emphasizing its commitment to electric vehicle adoption. With plans to sell only electric cars in Europe from 2033, VW's strategy focuses on expanding its electric vehicle lineup to cater to varying consumer preferences and market dynamics. Despite facing competition and time constraints, Volkswagen's ambitious project signifies a significant step towards a more sustainable and electric future in the automotive industry. However, challenges such as increasing the electric share to meet EU's CO2 targets and adapting to evolving consumer trends, like the preference for plug-in hybrids, present hurdles that Volkswagen is navigating to realize its electrification goals.

German Car Manufacturers on Edge as EU Considers Tariffs on ... Electric Vehicles

German carmakers like BMW, Volkswagen, and Mercedes-Benz are apprehensive about potential retaliatory actions from China following the EU's proposal to impose tariffs on Chinese electric cars due to alleged unfair subsidies. The EU is gearing up to raise tariffs, suspecting China of distorting the market with subsidies, a move vehemently opposed by Germany. In response, Chinese electric vehicle makers are contemplating setting up production plants in countries like Turkey and Hungary to circumvent EU tariffs, although analysts warn of possible stricter countermeasures. The final decision on tariffs, expected to range from 15 to 25 percent, will be revealed after the European elections, with the EU postponing the decision until after June to avoid political ramifications.

The press radar on this topic:

The Street
28. Mai 2024 um 14:00

Ferrari CEO compares the Chinese EV challenge to Formula 1

Politics
Economy
Ferrari CEO Benedicto Vigna sees the rise of Chinese electric vehicles (EVs) as an opportunity for European automakers to improve rather than a threat. Vigna compared the competition to Formula 1 racing, stating that if someone is faster, it is better to be faster than them rather than trying to stop them. He also expressed that the Chinese market accounts for less than 10% of Ferrari's sales, so potential tariffs would have minimal impact.
Deutsche Welle
28. Mai 2024 um 12:45

German carmakers fear China's retaliation

Politics
Economy
German carmakers fear retaliatory measures from China after the EU may impose tariffs on Chinese electric vehicles. German car manufacturers such as BMW, Volkswagen, and Mercedes-Benz are heavily dependent on the Chinese market and warn against the planned import duties. It is expected that the EU's retaliatory measures could have tariffs ranging from 15 to 30 percent based on the rules of the World Trade Organization.
Deutsche Welle
28. Mai 2024 um 12:45

German car manufacturers fear China's retaliation

Economy
Politics
German carmakers fear Chinese retaliatory measures after the EU plans to impose tariffs on Chinese electric vehicles. The European Commission has found evidence of market-distorting subsidies by Chinese car manufacturers. German carmakers such as BMW, Volkswagen, and Mercedes-Benz are heavily dependent on the Chinese market and strongly oppose the planned import duties.
EURACTIV.com
29. Mai 2024 um 04:31

German Minister Wissing: Tariffs on Chinese cars ‘wrong approach’

Politics
Economy
German Transport Minister Volker Wissing argues that imposing tariffs on Chinese electric cars to protect the European industry would hinder international competition. He believes that global competition is a driving force for German manufacturers to produce better and cheaper cars. Wissing is against restricting competition by the state and emphasizes the importance of fair competition.
EURACTIV.de
29. Mai 2024 um 04:15

Wissing: CDU spielt beim Verbrenner-Aus ein 'falsches Spiel'

Politik
Umwelt
Der Bundesverkehrsminister Volker Wissing (FDP) kritisiert die CDU dafür, das Verbrenner-Aus der EU nicht gestoppt zu haben. Er wirft der CDU ein 'falsches Spiel' vor und betont die Bedeutung der Dekarbonisierung für eine starke Industriegesellschaft. Wissing setzt sich für die Nutzung von klimaneutralen E-Fuels ein und fordert eine technologieoffene Herangehensweise bei der Reduzierung von CO2-Emissionen im Verkehrssektor.
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