VW China exec advocates free, open markets

Volkswagen Group is a strong advocate for free and open markets, said Ralf Brandstaetter, member of the board of management of the German car group for China, on Tuesday.

Volkswagen is celebrating its 40th anniversary in China this year, which he said "is not least due to the opening of the Chinese market".

"Over 40 years we have clearly demonstrated: Free and fair trade and competition creates prosperity, employment and sustainable growth for all. And we will never stop," said Brandstaetter, who is also chairman and CEO of Volkswagen Group China.

Brandstaetter made the remarks on Tuesday at the 2024 Summer Davos Forum held in Dalian, Liaoning province.

He said an open and constructive dialogue is "more important today than ever", as the world is increasingly influenced by protectionism, nationalism and growing isolation.

"The Summer Davos Forum which I had the pleasure to attend, again showed its strength to engage government representatives, business leaders and experts from various sectors in discussions and collaborations to gain mutual understanding and foster international relations."

Brandstaetter said Volkswagen is firmly committed to its 'in China, for China' pledge, deepening its localization efforts and fostering innovations.

"Our commitment to strengthening local partnerships is unwavering, as we strive for mutual progress and collective success," he said.