Volkswagen CEO Oliver Blume has suggested that the European Union adjust its planned tariffs on China-made electric vehicles (EVs) by offering benefits for companies that invest in Europe, Reuters reports.
He argued that instead of imposing punitive tariffs, the EU should reward investments that create jobs and collaborate with local firms. His comments come as the EU plans to impose tariffs of up to 45% on Chinese-made EVs for the next five years, citing unfair Chinese subsidies, following a year-long investigation. Blume also warned that retaliatory tariffs from China could negatively impact European carmakers.
