BMW Chief Executive Officer advocates for Germany's opposition to the proposed EU tariff increase.

The European Union (EU) is set to discuss the imposition of tariffs on the import of electric vehicles from China this coming Friday, a move that has sparked concerns among German car manufacturers.

According to reports, the proposed tariffs could potentially harm German companies operating globally, with Oliver Zipse, CEO of BMW Group, voicing his opposition to the measure. Zipse believes that Germany's economic prosperity is at stake due to these tariffs, as the value of Germany's automotive industry exports to China last year was 26.3 billion euros.

Similarly, Volkswagen's CEO, Oliver Blume, has expressed concerns about a potential trade conflict with China, fearing that it could trigger a trade war that only has losers. Mercedes-Benz CEO Ola Källenius has also called for the opening of global markets recently, aligning with the sentiments of other German car manufacturers, including BMW Group.

Spain and Germany, two of the four largest economies in the EU, have expressed opposition to the measure. For the tariffs to be blocked, a qualified majority of 15 Member States representing 65% of the bloc's population is needed.

Oliver Zipse has urged Olaf Scholz's government to vote against the measure, warning of the potential harm it could cause. The value of imports of cars and components from China to Germany last year was 6.8 billion euros, making China a significant trading partner for the country.

Meanwhile, the International Mobility Portal Summit is taking place today, where industry leaders and policymakers are discussing the future of mobility and trade. As the EU prepares to make a decision on the tariffs, the focus remains on finding a solution that benefits all parties involved and promotes global economic growth.