Porsche rules out US car production despite tariffs
Porsche says it will not produce cars in the US, arguing that the investment needed would outweigh any benefits despite 15 per cent tariffs on EU-built vehicles.
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Porsche has no plans to build cars in the United States, despite a 15 per cent US tariff on cars imported from the European Union. The company says the potential benefits would not justify the additional investment required to produce vehicles there.
Chief financial officer Jochen Breckner gave the explanation while discussing Porsche’s quarterly results, according to ANP/AFP. The decision sets the German sports-car maker apart from its sister brand Audi, which plans a major investment in a factory in Georgia.
Audi chief executive Gernot Döllner drew criticism over how the factory plan was announced. US President Donald Trump revealed it while Döllner was present at a Republican campaign event. Daniela Cavallo, chair of Volkswagen’s works council, described the appearance as “actively campaigning” for Trump, whom she accused of making sexist, homophobic and racist remarks.
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