German automaker BMW Group said that diversifying its supply chains away from China does not mean leaving the country.
"We always try to diversify our risks. This is not leaving a country or leaving a specific region," BMW Group CEO Oliver Zipse told CNBC in an exclusive interview.Earlier this month, the European Union launched a probe into subsidies for China-made electric vehicles exported to Europe, following a surge in EU imports of such vehicles from China."We always try to diversify our risks.
"For Germany, China remains a partner, a competitor, a systemic rival. But the aspect of systemic rivalry has become increasingly prominent in recent years," Germany's foreign minister Annalena Baerbocklaunched a probe European Commission President Ursula von der Leyen said on Sept. 13 that the"global market is flooded with cheaper electric vehicles" at"artificially low" prices owing to"huge state subsidies."
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