Volkswagen CEO Calls China a 'Fitness Center' for Innovation

Oliver Blume emphasizes learning from China's rapid advancements in EVs, software, and autonomous driving to revitalize VW's global operations.

• Volkswagen CEO Oliver Blume described China as a 'fitness center' for innovation, highlighting the country's pragmatic and cost-efficient advancements in battery technology, software, and autonomous driving.
• Blume aims to leverage China's innovative practices to drive transformation across VW's global operations, particularly in Germany, where he believes the company has rested on past successes for too long.
• Volkswagen's sales in China dropped by nearly 10% last year, with local competitor BYD surpassing VW in the booming electric vehicle market.
• Blume rejected the idea of solely using tariffs to shield European automakers from Chinese imports, advocating for 'intelligent' tariffs tied to investment incentives instead.
• The remarks come as VW faces broader challenges, including declining sales, job cuts, and increased competition in the global automotive market.

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