Call for open markets and cooperation by auto execs
China DailyVolkswagen's booth at the Shenyang international auto show in Liaoning province in May 2023. Leading companies in the automotive industry have called for free markets and cooperation at the 2024 Summer Davos amid the efforts of the European Union and the United States to curb the rise of China's new energy vehicle industry. Volkswagen Group is a strong advocate for free and open markets, said Ralf Brandstaetter, member of the board of management of the German car group for China, on Tuesday. Volkswagen is celebrating its 40th anniversary in China this year, which he said "is not least due to the opening of the Chinese market". In early June, the EU said it would impose additional duties of up to 38.1 percent on Chinese electric vehicles from early July, on top of a standard 10 percent car duty.
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