According to a report on the German "Stuttgarter Zeitung" website on October 4, Oliver Blumer, the chief executive officer (CEO) of Germany's Volkswagen Group and Porsche Group, suggested that politicians should pay attention to discretion when taking action against China's trade practices. According to reports, on October 4, Bloomer said at an event in Stuttgart, "We advocate fair competition," but protectionism should not result from this, because this will lead to more protectionism.
Furthermore, investigations into unfair trade practices should not be limited to subsidies received by Chinese suppliers but should cover all market participants.
The EU recently launched an investigation into China's subsidies to domestic electric vehicle manufacturers. According to European Commission President von der Leyen, the subsidies distort the market. Bloomer said: "We might as well focus on how to create competitive industrial framework conditions here. As long as we are strong, we don't have to be afraid of competition from outside Europe."
According to reports, this spring, Volkswagen, which has led the Chinese market for many years, was surpassed by local manufacturer BYD. Bloomer believes that the strong market position of Chinese automakers stems from their own strength. For example, BYD's industrial chain has a high degree of vertical integration, and 90% of its chips and batteries are produced in-house.