New European strategy
VW plants to China in response to Trump’s threat?
According to Group CEO Oliver Blume, Volkswagen is talking to Chinese partner companies about their investment plans for Europe. Takeovers of plants are also on the table. The new axis could be seen as a response to the USA's trade policy under the new President Donald Trump.
"We have close partnerships in China, joint venture partners, and of course there are sometimes talks, but no concrete decisions. Of course, something like this also has to be carefully prepared," Blume emphasized to the Reuters news agency on Tuesday.
China's interest in German VW plants
Reuters had learned from insiders that Chinese car manufacturers are generally interested in taking over German VW plants that the Wolfsburg-based company itself no longer needs in the long term. One example is the plant in Osnabrück, the closure of which was averted thanks to concessions made by the IG Metall trade union in the recently concluded company wage agreement. VW has reaffirmed its commitment to the continued use of the site. Further theoretical options or speculation would not be commented on.
IG Metall believes that if you want to sell cars in Europe, you should also set up your own production facilities here and create jobs. Europe needs a "local content strategy", i.e. an obligation for foreign suppliers of products to invest in European locations and to source parts from local production, the union recently stated.
Adapted China strategy
Blume said of business in China that the market there had changed structurally. "Competition is immense, many new automotive companies have entered the market." For this reason, Volkswagen set about adapting its China strategy a good two years ago - "in particular, to do more business in China, software, development services, but also to enter into partnerships". The aim is to be competitive with e-cars in the medium term. "We are still competitive with combustion engines and hybrids." It is about a structural change in the business. "But we continue to see prospects in China in the future - it is the largest automotive market in the world."
We stand for global world trade, and it is always positive when companies in our region invest in Europe.
Car manufacturers are worried about Trump's policies
Many car manufacturers and other large corporations are concerned about the trade policy of the USA under the new President Donald Trump. The Republican had threatened punitive tariffs on imports into the USA - including for Europe. "The Volkswagen Group has a strong foothold in the USA," said Blume. "I always take the position that anyone who is involved in regions and invests there should also benefit from favorable tariff rates.
Volkswagen is investing tens of billions in factories, in cooperations, in software, in batteries in North America - "and that should play a role there". The exchange with the US government will continue in the same way as it has in the past, the manager emphasized.
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