Webasto Testifies Against Proposed U.S. Auto Tariffs

WASHINGTON, July 19, 2018 /PRNewswire/ -- Webasto Group Chairman of the Management Board, Dr. Holger Engelmann, today testified at the Public Hearing conducted by the U.S. Department of Commerce on proposed automobile and auto part tariffs. Webasto, one of the top 100 leading suppliers to the automotive industry, opposes the imposition of tariffs, a position also held by the vast majority of the U.S. auto industry. The company has six sites in the U.S., employing approximately 1,800 employees. Its regional Americas headquarters is based in Rochester Hills (MI). Since the mid-1970s Webasto has been continuously expanding its U.S. presence and just recently acquired AeroVironment's Efficienct Energy Systems business segment for EV solutions – now Webasto Charging Systems, headquartered in Monrovia, California.

In his testimony, Dr. Engelmann emphasized Webasto's commitment to the U.S. economy and Webasto's U.S. employees. "We are committed to further expanding our footprint in the United States. Being experts for sunroofs, convertible roofs and heating systems, we are now investing massively in E-mobility solutions like chargers and batteries. In general, we currently plan to continue to make further investments in the U.S." But Engelmann also stated his deep concerns about the negative impacts of the proposed new tariffs on the U.S. facilities and colleagues at Webasto. "If the proposed tariffs are levied on automotive parts, Webasto will be significantly and adversely affected both in the short- and long-term. Webasto as well as the auto industry has been thriving in recent years. The 25 percent tariffs would again add uncertainty. Therefore, the recent development is concerning for us, for our American colleagues and our suppliers."

After testifying, Dr. Engelmann met with lawmakers on Capitol Hill to further discuss the tariffs and their potential impact.

The Department of Commerce expects to make a decision on the proposed tariffs in August 2018.

About Webasto:
The Webasto Group is a global innovative systems partner to almost all automobile manufacturers and among the top 100 suppliers in this industry sector. In its core business areas the company develops and produces sunroofs, panorama roofs and convertible roofs as well as thermo systems for all drive types. In addition, with battery systems and charging solutions Webasto is expanding its product portfolio for electromobility. In 2017 the Webasto Group generated sales of 3.5 billion euros and has around 13,000 employees at more than 50 locations (with over 30 of these being manufacturing plants). The headquarters of the company, founded in 1901, is located in Stockdorf near Munich (Germany). For more information please visit www.webasto-group.com

SOURCE Webasto

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http://www.webasto.com

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