Volkswagen chief supports EU Made in Europe rules to counter Chinese competition
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Speaking in Paris ahead of the motor show, Volkswagen CEO Oliver Blume backed the EU's Industrial Accelerator Act proposals, stating "Made in Europe" rules must reward actual value creation within Europe to help automakers compete with lower-priced Chinese rivals. Blume cited high energy costs, inflation-driven low demand, and intense Chinese competition as major pressures, noting Volkswagen is undertaking its largest-ever transformation program involving up to 100,000 job cuts.
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