The CEO of the VW Group, Oliver Blume, confirmed that the company discussed with its Chinese partners the possibility of investing in factories in Germany.
This confirmation comes after “Reuters” reported that Chinese companies were interested in buying the production units that VW plans to close.
When asked if he would consider selling one of the German factories to a Chinese investor, Blume said: “It is always positive when companies invest in Europe… we have close partnerships in China and, of course, there have been discussions, but no concrete decision.”, revealed the CEO of the VW Group, who was speaking at a conference in Berlin that took place this Tuesday, organized by the German publication “Welt.”
It is worth noting that VW has three joint venture partners in China – SAIC, FAW, and JAC, and holds a stake in the Chinese electric vehicle startup Xpeng; none of these Chinese companies currently have production units in Europe.
VW is trying to find a solution for the factories in Dresden and Osnabrueck, Germany, that it will close, as part of a cost-cutting plan in Germany, amid declining sales in China and a drop in global demand for electric vehicles.
So far, Chinese companies have shown little interest in building or buying factories in Germany, known for its high energy and labor costs.
