STLA Jun 2024 21.000 call
- Reuters
European automakers need time, not tariffs, to fend off China competition
MUNICH (Reuters) -Europe's car giants won't have much time to restructure their operations and product lines to compete with ascendant Chinese automakers, and stiffer tariffs will do little to protect the status quo, industry executives said during a Reuters event. European trade regulators in Brussels have said they could levy new tariffs on Chinese electric vehicles based on the results of an investigation into Chinese government subsidies. European Commission President Ursula von der Leyen on Tuesday said that Europe would take a "tailored approach" to its investigation and any potential duties imposed will be "correspondent to the level of damage".
- Bloomberg
Billionaire Peugeot Family Faces Rare Revolt by Shareholders
(Bloomberg) -- The billionaire Peugeot family is under unprecedented shareholder pressure over the performance of its listed investment vehicle following losses related to its holdings in the collapsed European property empire Signa.Most Read from BloombergNvidia Stock Surges as Forecast Delivers on AI HopesThese Flight Routes Suffer the World’s Worst TurbulenceHarvard Denies Degrees to 13 Protesters, Defies Faculty VoteCiti Trader Got 711 Warning Messages Before Sparking Flash CrashUS Justice D
- Reuters
Stellantis CEO: electric vehicle tariffs are a trap
MUNICH (Reuters) -Stellantis 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's Chief Executive Carlos Tavares said on Wednesday. The EU is expected to decide next month on whether to follow the U.S. in imposing additional tariffs on Chinese carmakers. Tavares said tariffs on Chinese vehicles imported to Europe and the United States are "a major trap for the countries that go on that path" and will not allow Western automakers to avoid restructuring to meet the challenge from lower cost Chinese manufacturers.
