{"id":13080,"date":"2024-05-25T09:00:16","date_gmt":"2024-05-25T06:00:16","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=13080"},"modified":"2024-05-25T09:00:16","modified_gmt":"2024-05-25T06:00:16","slug":"stellantis-ceo-electric-vehicle-tariffs-are-a-trap","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=13080","title":{"rendered":"Stellantis CEO: electric vehicle tariffs are a trap"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/05\/stellantis-ceo-electric-vehicle-tariffs-are-a-trap.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>Stellantis (STLAM.MI) expects a major battle with Chinese rivals in the European market for electric vehicles, warning of significant consequences for jobs and production as a result, the group\u2019s Chief Executive Carlos Tavares said on Wednesday.<\/p>\n<p>The comments in an interview with Reuters are among the CEO\u2019s most strongly worded yet as tensions among Beijing, Brussels and Washington over EV trade grow. The EU is expected to decide next month on whether to follow the US in imposing additional tariffs on Chinese carmakers.<\/p>\n<p>US officials said Wednesday they plan to hit Chinese made EVs and EV materials with duties up to 100 per cent by Aug. 1.<\/p>\n<p>Tavares said tariffs on Chinese vehicles imported to Europe and the United States are \u201ca major trap for the countries that go on that path\u201d and will not allow Western automakers to avoid restructuring to meet the challenge from lower cost Chinese manufacturers.<\/p>\n<p>The European Commission will unveil an initial decision on potential tariffs on Chinese EV imports on June 5. China has been threatening counter tariffs.<\/p>\n<p>\u201cWhen you fight against the competition to absorb 30 per cent of cost competitiveness edge in favour of the Chinese, there are social consequences. But the governments, the governments of Europe, they don\u2019t want to face that reality right now,\u201d Tavares said.<\/p>\n<p>Tavares said that tariffs would only fuel inflation in the regions where they are imposed, potentially impacting sales and production.<\/p>\n<p>\u201cWe are not talking about a Darwinian period, we are in it,\u201d Tavares said at a Reuters Events Automotive Europe conference in Munich, adding the price battle with Asian rivals would be \u201cvery tough\u201d.<\/p>\n<p>\u201cThis is not going to be easy for the dealers. It\u2019s not going to be easy for the suppliers. It\u2019s not going to be easy for the OEMs. As we know in Europe, everybody is talking about change as long as change is for somebody else.\u201d<\/p>\n<p>Italy\u2019s nationalist government has been pressing Stellantis to commit to building 1 million vehicles a year in the country, up from 750,000 last year. Tavares did not respond specifically to a question about Italy\u2019s demand, but outlined the overcapacity looming over the European auto sector.<\/p>\n<p>Chinese automakers are already on track to sell 1.5 million vehicles in Europe, equivalent to a 10 per cent market share and up to 10 assembly plants worth of production, Tavares said.<\/p>\n<p>\u201cIf we let the share of the Chinese OEMs grow \u2026 then it\u2019s obvious that you are going to create an overcapacity, unless you fight against that competition,\u201d Tavares said.<\/p>\n<p>Tavares said Stellantis is in \u201cvery rewarding discussions\u201d with labour unions at its European operations: \u201cMost of the time they agree with us in terms of what is the risk that we are facing and how we should go through that period.\u201d<\/p>\n<p>Stellantis last week announced it would start selling EVs of its Leapmotor (9863.HK) Chinese partner outside China during this year, starting form Europe in September.<\/p>\n<p>The Stellantis-Leapmotor joint venture, the first one between a Western and a Chinese carmaker designed to sell and produce EVs from a Chinese manufacturer outside China, will help the Franco-Italian group expand its global offerings of budget vehicles.<\/p>\n<p>\u201cWe will try to be Chinese ourselves, which means instead of being purely defensive vis-\u00e0-vis the Chinese offensive, we want to be part of the Chinese offensive,\u201d Tavares said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stellantis CEO Carlos Tavares expects a major battle with Chinese rivals in the European market for electric vehicles, warning of significant consequences for jobs and production. The European Commission will unveil an initial decision on potential tariffs on Chinese EV imports on June 5, and China has been threatening counter tariffs. Tavares believes that tariffs would fuel inflation, impact sales and production, and create overcapacity in the European auto sector. Stellantis is in discussions with labor unions about the risks they are facing and how to navigate the challenges ahead. The company will start selling EVs from its Chinese partner, Leapmotor, outside China starting in Europe in September. Tavares aims for Stellantis to be part of the Chinese offensive rather than purely defensive against Chinese competition.<\/p>\n","protected":false},"author":3,"featured_media":13081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1521,8536,2510,1766,4039,3617,8726,2134,3348,486,2334,11162,426,5047,2542,6262,4893,10095,1734,379,201,1841,11163,3343,988,8903,2658,415,7905,1605,67,5525,419,28,4484,839,3110,10330,5838,8872,4054,6106,3961,468,3984,1006,544,380,3438,2463,5129,3519],"class_list":["post-13080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-1521","tag-automakers","tag-brussels","tag-budget","tag-building","tag-carmakers","tag-ceo","tag-challenges","tag-change","tag-china","tag-chinese-manufacturers","tag-chinese-rivals","tag-competition","tag-competitiveness","tag-conference","tag-consequences","tag-demand","tag-discussions","tag-electric-vehicles","tag-eu","tag-europe","tag-european-commission","tag-european-market","tag-events","tag-fight","tag-follow","tag-fuel","tag-government","tag-impact","tag-imports","tag-inflation","tag-interview","tag-italy","tag-jobs","tag-labor","tag-labour","tag-market-share","tag-operations","tag-price","tag-production","tag-risk","tag-sales","tag-tariffs","tag-tensions","tag-threatening","tag-trade","tag-united-states","tag-us","tag-vehicle","tag-vehicles","tag-warning","tag-washington"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stellantis CEO: electric vehicle tariffs are a trap<\/title>\n<meta name=\"description\" content=\"tariffs on Chinese EVs. 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