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VW prepared to hand its factories to Chinese electric carmakers
SUMMARY
Volkswagen may allow Chinese electric carmakers to operate its underused production lines due to a downturn in Germany's automotive industry.
Executives are considering partnerships to optimize factory capacity as they reduce production. Gernot Döllner of Audi stated that such deals would “lower the entrance barrier of these competitors.” CFO David Powels emphasized openness to discussions with any partners.
Recently, Volkswagen abandoned plans to close its German factories after union negotiations. The company agreed to cut bonuses and reduce 35,000 jobs by 2030 instead. This plan aims to achieve over €15bn in wage savings while scaling back production.
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