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Volkswagen prioritises China, U.S. amid Europe instability -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Volkswagen logo can be seen being unveiled as the ID.6 and ID.6CROZZ SUVs are launched at an international premiere in Shanghai ahead of Shanghai Auto Show on April 18, 2021. REUTERS/Aly Song

BERLIN (Reuters: Volkswagen (DE) has announced that it is moving production to China and America as a result the conflict in Ukraine. It will prioritize China in this year’s budget, Herbert Diess, the Chief Executive of Volkswagen said on Tuesday.

Diess stated that “we will shift more to China because of the position in Europe.” Asking Diess how he would respond if China invaded Taiwan, he replied that he didn’t believe that the country would do so.

Diess declared that China is keen to maintain open borders. We believe it’s an advantage for us to have strong borders in China… China has been a stronghold.”

Following the invasion of Ukraine, Russia’s largest car manufacturer has stopped production.

Diess indicated that the biggest supply chain issue currently is the lack of wire harnesses from Ukraine, which affects most German plants. Diess indicated that it would be necessary to revise its outlook if the company could not move production in three or four weeks.

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