BMW AG Chief Executive Officer Oliver Zipse said US policies toward China risk creating a “dangerous” game of trade barriers that could thwart adoption of electric vehicles.
(Bloomberg) — BMW AG Chief Executive Officer Oliver Zipse said US policies toward China risk creating a “dangerous” game of trade barriers that could thwart adoption of electric vehicles.
Global automakers are lobbying the Biden administration to loosen restrictions in climate legislation that aim to curb China’s control over global supply chains from battery materials to semiconductors. BMW is pushing to change a provision that withholds part of a $7,500 consumer EV tax credit if car companies use critical minerals sourced from China and other “foreign entities of concern.”
“We would of course like to get all the raw materials from Europe or the US,” Zipse said in an interview. At the same time, “to think you can do that inside of 10 years to 100% in a fast-growing industry, I think that is not possible.”
Read more: Hyundai pleads case to ease US rule on EVs
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