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Volvo to shift EV production to Europe to escape China tariffs
The carmaker has started to divert manufacturing to Belgium ahead of an expected European Union crackdown on Beijing-subsidised imports
The European Commission launched a consultation to impose tariffs on Chinese EV imports amid claims that its manufacturers were undercutting western rivals thanks to the support of huge state subsidies. Ursula von der Leyen, the president of the European Commission, warned that the EU was being “flooded” with cheap Chinese imports, with prices kept artificially low by “huge state subsidies”. Regarding the new pay deal, Simon Smith, the chief people officer at Aston Martin, said: “This agreement also promotes talent retention, providing labour certainty for the business as we enter an important period of production, with the ramp up of new models that will support the company’s financial goals in 2024.”
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