VW’s controversial Xinjiang plant sale signals strategic shift in China

Quick Summary:

VW sells assets to address political risks and cut excess capacity, while extending its partnership with to regain market share in China.

A file photo from September 2018 shows VW cars being assembled at the SAIC Volkswagen plant in Urumqi.“By selling the plant in Xinjiang, VW can quell fears about political risks and cut excess capacity to adapt to a changing market where its petrol vehicles are no longer easy sales,” said Qian Kang, who owns car-component businesses in eastern Zhejiang province.“After all, the factory has been idle over the past five years.

Details of the transaction were not disclosed.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChina

Topics: China Motor Capacity Market Vehicle Xinjiang Shanghai Plant Volkswagen’s Urumqi Saic

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-29 @ 07:30:09 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 220 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 37 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23933374

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