Volkswagen’s chief executive, Oliver Blume, called for a confident stance from Europe after US President Donald Trump’s speech in Davos. “The EU has reacted correctly” he told “Handelsblatt”. “Europe has many strengths and can act with confidence. That’s why clear positions are essential”.
Blume linked new U.S. investment plans to tariff relief, noting that “with unchanged duties, a large additional investment is unaffordable”. The same caveat applies to the proposed Audi factory in America, which has been discussed in the group for months.
Both Audi and Porsche are hit hard by the U.S. tariff regime. Audi alone paid about €1.3 billion in tariffs last year. Blume said Porsche “has barely made money in the United States”. The 57‑year‑old had led Porsche as CEO until the end of the year, but has since fully committed to the Volkswagen Group.
