Volkswagen CEO Oliver Blume said the German carmaker is close to securing a tariff deal with the US as it targets affordable electric vehicles in Europe. Trump-era tariffs and a turbulent market have already cost the company “several billions.” Even with a proposed reduction from 27.5% to 15%, Blume called it a “burden” and confirmed plans for major US investments to negotiate further relief.
Porsche, Volkswagen’s luxury brand, is particularly affected by tariffs and a weak Chinese market. Blume also unveiled a small electric car aimed at capturing a fifth of Europe’s compact EV market.
BMW plans a Chinese-made iX3 SUV for 2026 with localised software. Trump’s trade war has disrupted the auto industry globally, prompting job cuts at Lotus and Jaguar Land Rover.
