For all its talk of radical change, Volkswagen's cost-cutting deal in Germany relies heavily on the automaker's tradition of cooperation between managers and workers, according to details disclosed by company sources.
Volkswagen wants to boost sales of electric cars to avoid 1.5 billion euros ($1.56 billion) in fines under stricter EU carbon emissions targets, a source at the German car giant said Tuesday. “1.5 billion is the
Car giant VW to wind down production at 2 factories; China could buy factories for foothold in Germany. Read more at straitstimes.com.
Chinese investors and officials are considering purchasing German automotive factories that are on the brink of closure, with a particular focus on those owned by Volkswagen, reported Reuters.
Car giant Volkswagen to wind down production at two factories China could buy factories for foothold in Germany, says source Volkswagen open to selling to China buyer,
As rumored last year, Volkswagen might not be able to avoid closing factories in Germany. The best outcome would be selling some of them to Chinese carmakers that want to start production in Europe.
However, state support for EVs has been patchy. Germany, Volkswagen's home market, abolished subsidies for electric cars at the end of 2023. Volkswagen is one of a number of European carmakers struggling in the face of fierce Chinese competition and the ...
Berlin, Germany — Volkswagen vehicle deliveries fell 1.4 percent year-on-year in 2024, the German carmaker said on Thursday, dragged down by fierce competition in China. The VW brand, part of the larger Volkswagen group which includes Audi and ...
VW produces and sells vehicles around the world. Its Germanness is an important selling point, but the company is equally at home in China, Brazil and the US. Its dependence on foreign markets may soon come to bite.
However, state support for EVs has been patchy. Germany, Volkswagen's home market, abolished subsidies for electric cars at the end of 2023. Volkswagen is one of a number of European carmakers ...
"It's hard to square the super-tough narrative of having reached a tipping point and going in all guns blazing, with the agreement that came out," said Stephen Reitman, analyst at Bernstein Research who has followed Volkswagen for decades.
Chinese officials and automakers are eyeing German factories slated for closure and are particularly interested in Volkswagen's sites , a person with knowledge of Chinese government thinking told Reuters.