Volkswagen boss backs EU plan to bolster domestic European industry
Source: The Guardian ·
Oliver Blume says ‘Made in Europe’ rules to counter rapid rise of lower-price Chinese brands ‘must reward real value creation’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…
From the source
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. The rules are aimed at countering the rapid rise of Chinese brands in Europe in the automotive sector and other important manufacturing industries. Lower-priced Chinese manufacturers have prompted a crisis in several industries. Volkswagen is among the most-affected European companies. Germany’s biggest carmaker has launched a brutal plan to cut as many as 100,000 jobs. Blume said it was the “largest transformation programme in its history”. The proposals for the Made in Europe rules, formally known as the Industrial Accelerator Act, would limit subsidies and public procurement to products with a large proportion of their materials and manufacturing coming…
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