Volkswagen’s CEO, Oliver Blume, indicated that he is trying to avoid closing plants as the company seeks to turn around its performance. The Wolfsburg, Germany-based company faces pressure to cut costs at home and increasingly intense competition in the Chinese market.
Last week, Volkswagen announced plans to streamline its model lineup by up to half, but did not provide specifics on how it will cut costs. There has been renewed speculation about the future of several plants in Germany.
Blume told the Bild am Sonntag newspaper that “there are more intelligent solutions than closing plants.” He added that a cost-cutting program in Germany is already producing effects, with factory costs improving by an average of 20% last year alone.
Original reporting: KTBS 3 (Shreveport) — read the source article.
