Volkswagen CEO Discusses Chinese Interest in European Investment, No Concrete Decisions Yet

Credit: Volkswagen

Volkswagen CEO Oliver Blume has confirmed discussions with the company’s Chinese joint venture partners regarding their potential interest in investing in Europe. However, a spokesperson for the automaker clarified on Tuesday that no concrete decisions have been made.

Blume responded to a question about whether he would consider entering talks with Chinese investors about acquiring Volkswagen’s German factories, stating that any investment in Europe, particularly if it creates value and jobs, is generally viewed positively.

See also: Volkswagen Faces Challenges in U.S. Market Expansion and Cost-Cutting Efforts in Europe

Credit: Volkswagen

He added that while discussions with Volkswagen’s Chinese joint venture partners are ongoing, there were no specific plans at present. “Something like that must be carefully prepared,” Blume said during a conference in Berlin organized by Die Welt.

The spokesperson emphasized that Blume was not referring to any conversations about Volkswagen’s German plants, such as those in Dresden and Osnabrueck, which are set to cease production in the coming years. The company is working on a long-term solution for these plants, but declined to comment further on speculation.

See also: Chinese Companies Eye VW Plants as Volkswagen Seeks Buyers for Osnabrück and Dresden Sites

Credit: Volkswagen

Volkswagen has three joint venture partners in China—SAIC, FAW, and JAC—and holds a stake in Chinese electric vehicle (EV) startup Xpeng. Despite numerous Chinese automakers planning to build factories in Europe, there has been little public interest in establishing production facilities in Germany, largely due to the country’s high energy and labor costs.

Source: Reuters

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