Volkswagen is prepared to let Chinese electric carmakers take over production lines in its struggling factories as Germany’s automotive industry is struck by a downturn.

For all its talk of radical change, Volkswagen's cost-cutting deal in Germany relies heavily on the automaker's tradition of cooperation between managers and workers, according to details disclosed by company sources.

Volkswagen is open to allowing Chinese carmakers to take over its excess production lines in Europe, as it grapples with falling demand and rising competition from the very same companies eyeing its factories.

Chinese officials and automakers are eyeing German factories slated for closure and are particularly interested in Volkswagen's sites , a person with knowledge of Chinese government thinking told Reuters.

Car giant VW to wind down production at 2 factories; China could buy factories for foothold in Germany. Read more at straitstimes.com.

CFO Arno Antlitz, speaking to investors in New York on Tuesday, said that the cost-cutting deal struck with unions last December tackled the carmaker's problems of high labour costs and capacity underutilisation.

VW produces and sells vehicles around the world. Its Germanness is an important selling point, but the company is equally at home in China, Brazil and the US. Its dependence on foreign markets may soon come to bite.

BERLIN (Reuters) - For all its talk of radical change, Volkswagen's cost-cutting deal in Germany relies heavily on the automaker's tradition of cooperation between managers and workers ...

Volkswagen is exploring alternative uses for its Dresden and Osnabrueck factories under a cost-cutting drive to pare back its German operations. Europe's biggest automaker, which owns brands including Porsche, Audi and Skoda, has seen sales fall amid rising competition from Chinese companies.

For all its talk of radical change, Volkswagen’s cost-cutting deal in Germany relies heavily on the automaker’s tradition of cooperation between managers and workers, according to details ...

BERLIN (Reuters) - For all its talk of radical change, Volkswagen's cost-cutting deal in Germany relies heavily on the automaker's tradition of cooperation between managers and workers, according to details disclosed by company sources. That has left some ...

However, state support for EVs has been patchy. Germany, Volkswagen's home market, abolished subsidies for electric cars at the end of 2023. Volkswagen is one of a number of European carmakers struggling in the face of fierce Chinese competition and the ...