Reported 9 months ago
The German Chancellor, Olaf Scholz, expressed opposition towards the EU imposing tariffs on electric vehicles, stating that closing off the car market due to competition from foreign countries would not be beneficial for German companies. Meanwhile, Chinese company Geely Group's electric car brand, Volvo, has started shifting production lines from China to Belgium to avoid tariffs. Scholz emphasized the importance of fair and free world trade for progress and innovation in the automotive industry, amidst the EU's investigation and potential temporary tariffs on Chinese electric cars to be implemented from July 4th onwards, impacting global trade and competition.
Source: YAHOO