EU Investigation Into Chinese EV Subsidies May Backfire, BMW CFO Warns: Report
Portfolio Pulse from Shivani Kumaresan
BMW CFO, Walter Mertl, has expressed concern over the European Union's investigation into subsidies for EVs manufactured in China, warning that it could trigger retaliatory actions from Beijing. This could potentially affect BMW's sales in China and its exports to Europe. Despite this, Mertl remains optimistic about BMW's Q3 results and confirmed a surge in EV sales. However, he acknowledged ongoing supply chain issues.
October 06, 2023 | 3:33 pm
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BMW could face potential risks due to the EU's investigation into Chinese EV subsidies. This could affect its sales in China and its exports to Europe.
The EU's investigation into Chinese EV subsidies could trigger retaliatory actions from Beijing, which could affect BMW's sales in China and its exports to Europe. Despite this, the company remains optimistic about its Q3 results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Volkswagen was mentioned in the context of potential decreased EV demand, which BMW refuted by confirming a surge in its own EV sales.
Volkswagen was mentioned in the context of potential decreased EV demand. However, this was refuted by BMW, which confirmed a surge in its own EV sales.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50