Boryszew SA, Adam Holewa – Członek Zarządu, #633 ZE SPÓŁEK

It depends how you look at it, of course. On one hand, you could say these are tariffs that regulate and somewhat strengthen the American market. Nothing happens without reason. Trump obviously wants to protect his jobs and encourage investors to invest in the American market, as he signals clearly in many statements. For us, this always has a double meaning. On one hand, as exporters, if we have signed agreements where Americans pick up from us, then everything is fine because they pay the tariffs themselves - it's a bit of a trap on them. But on the other hand, when we import certain elements from the United States, there is also a risk that these tariffs from the other side, meaning the trade war, actually escalate, and then every global player - China, India, Europe - will impose their own tariffs to protect their markets. Indirectly, certainly, because any tariffs affect the market and destabilize it a bit. So China probably also has to think about how to respond. As of today, our factories in China mainly produce for the Chinese market, so we don't have that type of problem because within China, transport and production are tariff-free. However, there are some components we transport from China to Europe, but that's Europe, not the United States. We'll see how China responds with its regulations and tariffs, and then we'll see the impact on us. So I confirm the CEO's statement: we'll see. Could you close it in a single snapshot of one year? Everyone would say the condition is terrible because the level of electric car sales is on a completely different planet from what was communicated by all the carmakers. I think every carmaker in Europe had to revise their sales plans, which immediately affected their results, and we hear loudly about what's happening in Germany, France, and other countries and big car companies - results have dropped dramatically, nothing to celebrate. But it shows that Europe must undergo a transformation. It seems that without a common strategy, without standardization of certain aid programs, it will be difficult because this market is very sensitive to competition. With products from China, no country in the world can compete due to electricity and labor costs - it's still three times cheaper than here in Europe. So it will be very hard, although we have our strengths if we focus on digitalization of mobile services and not just on the product itself, but also on services related to electromobility. The chances are good because the Chinese also don't have access to all data and all satellite data that are available in Europe. I think continuing to build charging infrastructure, relieving people's fear of having to plan their trip, parking spaces, and access to broadly understood digital mobility - not everyone has to own their vehicle - these are the directions that will definitely develop very strongly in Europe, and there will be a lot of discussion about it. Currently, automotive is not just the car itself and the change from combustion to electric; that won't do it. A new generation of cars won't cause them to sell significantly better. It must come in a package with services, availability, and various mobile apps that are currently available. We as a Boryszew group have a clearly defined structure that is very diversified. We aim for stabilization in Europe; we do not expect further sales drops. We focus on strong development of our business in China, India, and Brazil - these are the main growth directions of our group.