Volkswagen AG Chief Executive Officer Oliver Blume hopes for an alternative solution to tariffs on Chinese electric vehicles as he braces for potential retaliation from Beijing, Bild am Sonntag reported.

CEO Oliver Blume is voicing some concern after the European Union voted to add tariffs as high as 45% on China's electric vehicles. In an interview with Bild am Sonntag, Blume said he hopes for an alternative solution to tariffs on China's electric vehicles and is bracing for potential retaliation from Beijing.

Volkswagen Chief Executive Oliver Blume would like an alternative to imposing tariffs of electric vehicles from China as he prepares for possible retaliation from Beijing, newspaper Bild am Sonntag reported.

VW Group CEO Oliver Blume said Chinese automakers should get allowances for investments in Europe instead of punitive tariffs on their electric cars imported into the bloc.

The EU will press ahead with tariffs on China-made electric vehicles, even after Germany and its carmakers rejected them.

Oliver Blume, CEO of Volkswagen Group, said China has emerged as the epicenter of the automotive industry's future. He made the remarks on Friday at the 2024 World New Energy Vehicle Congress held in Haikou, Hainan province. Volkswagen is celebrating its 40th anniversary in China, its largest market around the world.

The head of Volkswagen appealed to the European Union on Thursday to rethink its planned tariffs on electric vehicles from China, saying investment in Europe should be rewarded rather than punished. That was emphasised by Blume in an interview for the Bild am Sonntag,