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Volkswagen denies talks with Chinese

Volkswagen CEO Oliver Blume denies talks with Chinese manufacturers over plant overcapacity, emphasizing cost-cutting and competitiveness.

Sarah Johnson
BySarah Johnson- Senior Editor
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Volkswagen denies talks with Chinese
Photo: Prepared by Bond.az

BERLIN (Reuters) - Volkswagen CEO Oliver Blume told a workers' assembly on Wednesday that the German carmaker is not in talks with Chinese manufacturers about overcapacity at its European plants.

“We still have excess capacity at our plants in Europe and Germany. We need to address this to remain competitive,” Blume said in Wolfsburg, adding that there are “currently no plans or discussions with Chinese manufacturers.”

The statement comes amid speculation over Volkswagen's future as profits fall and competition intensifies.

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