July 05, 2024 – BMW Chairman and CEO Oliver Zipse has criticized the European Union’s decision to impose a temporary tariff of up to 37.6% on Chinese-made electric vehicles from July 5th.
According to Zipse, this measure will not only fail to enhance the competitiveness of the European automotive industry but may actually harm the business models of global companies, restrict the supply of electric vehicles, and ultimately slow down the decarbonization process in the transportation sector.
In a statement, Zipse emphasized that tariffs are a “dead end” and warned that imposing tariffs on Chinese electric vehicles could potentially jeopardize the EU’s emission reduction plans. He pointed out that many goods produced in China actually originate from non-Chinese companies, including German firms.
Data from the European Federation for Transport and Environment reveals that nearly 20% of the electric vehicles sold in the EU last year were manufactured in China, with more than half of those produced by Western automakers.
Other European automakers, including Mercedes-Benz and Volkswagen, have also expressed opposition to the EU’s decision.
Furthermore, Zipse had previously stated in an interview in May that imposing additional tariffs on Chinese electric vehicles would only “hurt oneself by lifting a rock only to drop it on one’s own feet.”
This incident highlights the conflict between protectionism and the global automotive industry’s decarbonization goals, as well as the challenges faced by the European automotive industry in finding a balance in global competition.
