Germany-based Volkswagen is considering closing factories in the country as European Union automakers struggle with a flood of cheap Chinese-made cars that are taking up an increasing share of auto sales on the continent.
“The situation in the European auto industry is very tough and serious,” Volkswagen Group CEO Oliver Blume said on Monday, suggesting the company could close some factories in Germany to cut costs and eliminate some job protections for auto workers.
VW factory closures in Germany first time The automaker is closing a domestic factory, its first globally since closing its Westmoreland, Pennsylvania, plant in 1988.
The move would come as Chinese automakers, offering highly subsidized cars sometimes made with slave labor, are gaining market share across Europe. trigger The EU will impose provisional tariffs on Chinese-made electric vehicles (EVs).
Chinese automakers set new records 11 percent They are expected to increase their market share in the EU market in June this year. According to a policy analysis released in May, Chinese-made EVs are expected to increase their market share in the EU market. quarter More than 10% of EVs across Europe will be available for purchase by the end of this year.
VW executives first came under fire in 2019 over its operations in China's Xinjiang region, where more ethnic minorities have been held in “concentration camps” than anywhere else since World War II. At the time, executives said the company's operations there were “purely for economic reasons.”
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter. here.
