Reuters reports that the CEO of SEAT, the Spanish subsidiary of Volkswagen, has warned that the company will be compelled to reduce production and lay off approximately 1,500 employees if the European Union (EU) fails to reduce tariffs on electric vehicles (EVs) produced in China by the end of March. Since October of last year, SEAT has incurred an additional 20.7% cost due to the EU's tariffs on Chinese-made EVs. Several executives from European automakers have emphasized that this EU measure has not safeguarded local enterprises or jobs but has instead inflicted collateral damage on European automakers.
