Volkswagen CEO talks about EU launching countervailing investigation on Chinese Electric vehicles: car companies should enhance their Competitiveness

CTOnews.com, October 6 (Xinhua)-- Volkswagen and Porsche CEO Obom said at an event in Stuttgart that local politicians would "pay attention to discretion" in countervailing investigations against Chinese electric vehicles, according to a report in the German daily Stuttgart on Wednesday.

▲ Touyuan Volkswagen, agreed with Obom, said, "We advocate fair competition," but it should not lead to protectionism, because it will lead to more protectionism. At the same time, he argued that the investigation into "unfair trade practices" should include all market participants around the world.

We should pay more attention to how to create a more competitive industrial framework here. If you are strong, you don't have to worry about competition from outside Europe.

During the spring, VW's leading position in China's auto market was replaced by BYD. To this, Obermu believes that the strong market position of Chinese car companies is based on their own advantages. He also cited BYD as an example: "BYD has a high degree of vertical integration, and 90% of semiconductors and batteries are self-made."

After being overtaken by BYD, Volkswagen also adjusted its goal in the Chinese market: to become the largest international manufacturer in the Chinese market.

CTOnews.com previously reported that according to SAIC Volkswagen official, SAIC VW ID. The family ordered more than 20,000 vehicles in September, of which 15000 were ID.3 models. ID. The family has sold more than 160000 vehicles by the end of September.

On July 7, the 2023 SAIC-Volkswagen ID.3 announced a cut of 37000 yuan, with prices starting from 125900 yuan, triggering a buying spree, up 689 percent from the previous month.