XPEV - Volkswagen CEO Dismisses Threat From Chinese EV Makers Despite Price Surge: 'We Have A Brand Legacy' | Benzinga
Volkswagen (OTC:VWAGY) CEO, Oliver Blume, has brushed off concerns over the rising threat from Chinese electric vehicle (EV) makers, claiming European manufacturers hold an edge over their Chinese counterparts, as reported by Electrek
Blume stated that Chinese manufacturers offer their vehicles in Europe at double the price they do in China, despite acknowledging the strides China has made in car manufacturing over recent decades.
The CEO credited Volkswagen’s vehicle know-how, quality levels and brand legacy as factors keeping the company in a strong position against new competitors. Despite the number of EVs shipped to Germany from China more than tripling in the first quarter of the year, Blume remains confident in VW’s competitive edge.
Blume explained that while Chinese EV makers can produce vehicles for approximately 20% less in China, they will not be able to offer the same cost benefits in Europe due to the high costs of adapting vehicles to European standards and establishing ...