Volkswagen could bring its cars developed in China to the European market or even share capacity in Europe with Chinese partners, CEO Oliver Blume told analysts on Thursday, after presenting quarterly results.
Volkswagen has three joint venture partners in China — SAIC, FAW and JAC — and owns a stake in Chinese electric vehicle startup Xpeng, none of whom currently have production capacity in Europe.
Blume said the company would check “if there are opportunities for our Chinese partners in Europe” to deal with excess plant capacity, downplaying one analyst’s concerns that this could play into the hands of Chinese brands targeting a larger market share in Europe.
He said one of the ideas was whether Europe’s largest carmakers could be “opening this for partnering, maybe with our partners we do have in China”.
Volkswagen is also looking at “what own China products could fit for the European market, especially in segments where we are not present”, he added.
Reuters
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