Volkswagen says localisation in China and other nations will mitigate USA's tariffs

The Star

German automaker Volkswagen emphasises the importance of healthy market competition, saying that it wants to build its business in different parts of the globe to mitigate situations such as the sweeping tariffs by the United States.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00The whole automotive market globally is under pressure and we as a real global player are

00:22analyzing the situation very, very deeply. For us, and that was our acting also in the

00:29past, it was very important to have a free and fair trade between the regions, but the

00:35current regulations brought us to do more local business, as we decided already in China,

00:41doing more business here in China for China. The same in the US, also we are intending

00:47to invest heavily in the US, so we can't influence the situation coming from the politics or

00:53geopolitics. And so we have to prepare ourselves, being attractive and having the opportunity

00:59to offer the right products to our local customers. Both of us, we are deeply integrated in the

01:05value chain and in terms of engineering, in terms of software, in terms of battery technology.

01:12And so I feel very positive having competitors like BYD is challenging to make our business

01:20better. And at the end, it's very positive to have this for the customers to provide the

01:25best technologies. First of all, we are focusing on China and Chao Peng is doing a great job

01:32and I'm honoring what they are doing there. And therefore, we have chosen this partnership.

01:38I'm very happy about it. Also the progress, the speed, the innovation level. We think step

01:44by step, first, now bringing the first models to the market. Also collaborating in terms of

01:50developing software architectures. Competition is good for developing innovations and innovations

01:57are at the end very positive for the customers. We use Chinese speed also to improving our processes

02:04like the engineering speed. Our new platforms are developed in only two years with a typical

02:11Volkswagen DNA and a very high standard of the technological level we are providing to our

02:18customers. And so we are benefiting a lot what we can learn here in China and bringing also the

02:24process knowledge and the experience to other regions of the world.

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