His proposal is that for every dollar that Volkswagen is investing in the US, a dollar of rates is also waived. This concept has already been submitted to the US Department of Trade, where the first reaction was very positive, according to Blume. “Our ideas have also been presented to the president.”
According to the Volkswagen CEO, his company could invest dozens of billions of dollars in the US. Then it is about money for the new American brand Scout, the software project with Rivian, “but also investments for Volkswagen and Audi,” said Blume. A separate Audi factory in the US is also conceivable.
Import duties vs cost Volkswagen 1.3 billion euros
Blume emphasized that such a deal requires an agreement between the EU and the US. “The order is clear: first an EU-VS deal, and then we as a company take the initiative.” Both parties could benefit, he also argued. “For us it pays off in terms of our growth strategy in the US, and for the Americans it offers positive impulses for the development of their economy.”
Import duties
American import duties cost Volkswagen 1.3 billion euros in the first half of this year, was announced earlier on Friday. That got a big bite from the profit of Volkswagen. The US will tax the import of cars made outside the country since April with a levy of 25 percent. Volkswagen also sold considerably fewer cars in North America last quarter.