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Volkswagen ready to act amid China metal export curbs

by Uma
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2023 07 06T065057Z 1 LYNXMPEJ6505W RTROPTP 4 BRAZIL ECONOMY

Volkswagen ready to act amid China metal export curbs

(Reuters) – Volkswagen on Thursday said it was monitoring the situation on the raw materials markets after China announced it would control exports of some metals, adding that it was “ready to take measures together with its partners if necessary”.

China’s commerce ministry said earlier this month it would require export permits for eight gallium products and six germanium products from August 1 to protect national security.

A Volkswagen spokesperson told Reuters that gallium and germanium were important resources for automotive products and played a role in future autonomous driving functions.

 

(Reporting by Jan Schwartz, Writing by Anna Mackenzie, Editing by Friederike Heine)