BMW CEO sees risk of cheap Chinese cars in Europe but opposes tariffs
BMW CEO Milan Nedeljkovic backs voluntary pricing agreements rather than tariffs to address the threat of low-cost Chinese car imports to European industry, he told the newspaper FAZ in an interview published on Tuesday.
"Some Chinese cars are being offered here at prices that are not comprehensible from a business perspective," Nedeljkovic said, adding that this risked fuelling protectionist tendencies in Europe.
The European Union is assessing measures to address what Commission President Ursula von der Leyen calls an "unsustainable" trade deficit with China.
Some European auto executives and politicians have called for local content rules and expanded tariffs to include plug-in hybrids from China, fearing a threat to their market share.
Nedeljkovic called for political dialogue with China aimed at reaching a common understanding of market-based pricing, followed by concrete measures.
"Additional tariffs would constitute an even greater intervention, which is why I support voluntary agreements based on fair conditions," he told the paper, adding, "Nobody is interested in an escalation."
BMW has repeatedly criticised current EU duties on Chinese EV imports and warned that such measures risk a trade conflict.
