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  • Volkswagen Faces Factory Closures Amid Asian Competition Pressure

    09/02/2024 7:59:05 PM PDT · by Robwin · 33 replies
    Devdiscourse ^ | 02-09-2024 | Devdiscourse News Desk
    Volkswagen is contemplating factory closures in Germany for the first time as it grapples with increasing pressure from cheaper Asian competitors. This development signifies a major conflict between Chief Executive Oliver Blume and influential company unions, which have a history of blocking management decisions.The company's works council has identified a large vehicle plant and a component factory as obsolete, vowing strong opposition to the executive board's plans. Lower Saxony, Volkswagen's second-largest shareholder, supports a review of potential closures, increasing tensions within the company.Facing decreased competitiveness, a challenging economic environment, and aggressive Chinese automakers entering Europe, Volkswagen plans to cut costs...