Automotive industry
VW boss Blume: China is “a kind of fitness center” for us
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The sluggish business in China has become a burden for the ailing VW Group. Now Europe’s largest car manufacturer wants to benefit from the achievements of its competitors from the Far East.
Volkswagen boss Oliver Blume sees China as “a kind of fitness center” when it comes to economic development. “Innovations, for example in batteries, software or autonomous driving, are created here pragmatically and cost-efficiently, with great creativity and immense speed,” said Blume in an interview with “Zeit”, according to the advance report.
This know-how and this attitude can be used to transfer it to the entire group, said Blume, adding: “Especially to Germany, where we have enjoyed our previous success for too long.” Blume denied that the European automobile market needed to be protected from Chinese imports “only with tariffs.” “The overall aim should be to design tariffs intelligently,” said the manager. They could, for example, be linked to investment incentives.
The sluggish business in China also caused VW to experience a decline in sales across the group last year. Sales there fell by almost ten percent. According to its own information, the German car manufacturer remains the leader in combustion engines with a market share of over 20 percent. When it comes to electric cars, which are booming in China and overall, the local challenger BYD has long since overtaken the market. “A competitive automotive industry has developed in a short time in China. For us it is now a kind of fitness center,” said Blume.
dpa
Source: Stern