Amid human rights concerns, Volkswagen to exit China's Xinjiang plant

Quick Summary:

Volkswagen defended the audit, stating that it complied with legal requirements and was independently conducted.

However, the audit, conducted by Berlin-based consultancy Löning, drew criticism from human rights groups.

Despite its withdrawal from Xinjiang, Volkswagen plans to deepen its partnership with SAIC by extending their joint venture for 10 more years, until 2040.

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Category: BusinessFinance

Markets: IndiaChina

Topics: Uyghur rights abuses Xinjiang controversy SMVIC SAIC Motors SA8000 standards Volkswagen exit china Volkswagen China Volkswagen news Volkswagen china exit Human rights concerns MSCI ESG Volkswagen china news today Volkswagen news update today Volkswagen Xinjiang plant Turpan testing tracks

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Article Type: News Report

Published On: 2024-11-27 @ 16:09:48 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 424 words

Reading Time: 3 minutes read

Sentences: 23 lines

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Copyright Owner: © Business Standard

News ID: 23904614

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