VW CEO denies talks with Chinese over plant capacity
CEO Oliver Blume told workers that Volkswagen is not in talks with Chinese firms over plant capacity. The firm aims to be competitive by localizing production.
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VOLKSWAGEN AG CEO Oliver Blume told workers on Wednesday the automaker is not currently negotiating with manufacturers from China to share European factory capacity. The statement follows speculation regarding the future of Volkswagen's manufacturing footprint in Germany as profits decline. Maintaining competitiveness requires Volkswagen to resolve persistent excess capacity across its European and German production sites.
