Electric cars, duties on China. And in the EU the first closure for green factories: after Volkswagen also Audi. Ford suffers

The department cars broken down in the switch to electricity casts a heavy shadow on the recovery of European industry (and clouds the growth projections of the American one) just as the EU Commission follows and points out Beijing jointly responsible for the general confusion, definitely encouraging it new duties of up to 35.3% to hit low-cost battery-powered cars “made in China”. A development that threatens to worsen trade tensions with the Asian giant. In the background is Volkswagen, which for the first time in its history of almost a century has decided to close three plants in its native Germany, shaking even the federal government. The move did not remain isolated: Audi, which is controlled by the German group, followed closely in his footsteps.

IN MUSIC

The company has informed the unions that it intends to stop, at the end of February, the Brussels plant, which employs around 3 thousand people and is active in the production of SUVs electricity only. Q8 e-tron. The choice, confirmed by weak demand, is even more symbolic, since it is the capital of the European institutions that have bet politically on the transition to cars without emissions.

A few months ago Audi has already announced that it will close its doors in Belgium due to the “difficult economic conditions”, and now it would be in contact with an investor who could deal with company vehicles and could over the plant to be used for buses or trucks. Despite the many pains, the crisis in the automotive sector is not yet limited to Europe alone: ​​even on the other side of the Atlantic, historical briefs are not laughing, such as Ford , which has cut its earnings forecasts for today. year, citing the rising costs and supply disruptions due to recent outbreaks in the US.

The house at Detroit expects about $10 billion in earnings in 2024, down from a previous estimate of $10 to $12; after the announcement, the stock fell 9% at the opening of the session on Wall Street. Between today and tomorrow it will be the turn of Volkswagen and Stellantis to raise the curtain on their accounts, which promise to be less than smooth.

And it is in this context that, yesterday, as it was widely expected, the European Commission has closed its investigation into China’s anti-competitive subsidies to the national electric car supply chain, definitively accepting countervailing duties added to those already in place equal to 10%, for a maximum value of more than 45%. Published last night in the Official Journal, the tariffs are effective from today, the day customs collections begin: the rates – unchanged compared to the last version that saw the governments divided into three blocs between those in favor (Italy and France), those against (Germany and Hungary) and abstention (Spain) – equal to 35.3% for Sac and for the companies that did not work in the study, 18.8% for Geely, 17% for Byd and 7.8% for Tesla; finally, with 20.7% for all acronyms that cooperated in the study. Negotiations with Beijing to reach a negotiated solution, however, are continuing, Brussels assures, as fears grow of Chinese retaliation on other sectors, such as exports agricultural food: white smoke that could be within the framework of the WTO would bring the EU executive. rewrite the regulation as soon as it becomes effective.

THE HOLY WAR

And in Germanywhere according to the latest estimates from experts there is a risk of recession in 2025 for the third year in a row, the car crisis – with the assumption of cutting 190 thousand jobs until 2035 – is also becomes political, with Chancellor Olaf Scholz, Minister of Finance Christian Lindner and from Economics Robert Habeck who all go their separate ways, in anticipation of their campaigns for next year’s elections . Regarding Volkswagen, Scholz – who called a summit of businessmen at the chancellor yesterday – had said in an initial opinion that jobs must be maintained and, through his spokesperson, to pay​​​​”for the bad management choices of the past it cannot be. the workers.” Last week, Habeck was the first to launch the proposal for “Funds for Germany”, a support program for companies based on their investments. All companies – giants or startups – would receive a subsidy of 10% of investments from the state, except for those in real estate. It was not revealed how high the fund is, or at least it does not have a maximum level.