VW CEO confirms talks with Chinese JV partners on investing in German plants

Reuters
01-28
VW CEO confirms talks with Chinese JV partners on investing in German plants

BERLIN, Jan 28 (Reuters) - Volkswagen and its Chinese partners have discussed the possibility of them investing in plants in Germany, VW Chief Executive Oliver Blume told Reuters at a conference on Tuesday, after Reuters reported that Chinese investors were interested in buying up German factories.

Asked whether he would consider selling a German factory to a Chinese investor, Blume, speaking at a conference in Berlin organised by German publication Welt, said: "It is always positive when companies invest in Europe ... we have close partnerships in China and of course, there have been conversations, but no concrete decisions."

Volkswagen VOWG_p.DE has three joint venture partners in China - SAIC, FAW and JAC - and owns a stake in Chinese EV startup Xpeng, none of whom currently have production capacity in Europe.

(Reporting by Klaus Lauer, Writing by Victoria Waldersee, Editing by Miranda Murray)

((Victoria.Waldersee@thomsonreuters.com;))

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