Volkswagen Considers European Factory Partnership with Chinese Automakers
Volkswagen's Strategic Plans for European Expansion
Potential Introduction of China-Developed Cars to Europe
BERLIN, April 30 (Reuters) - 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.
Current Joint Ventures and European Production Capacity
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.
Exploring Opportunities for Chinese Partners 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.
Collaborative Factory Partnerships
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".
Evaluating China-Developed Products for European Markets
Targeting New Market Segments
Volkswagen is also looking at "what own China products could fit for the European market, especially in segments where we are not present", Blume added.
Reporting and Editorial Credits
(Reporting by Rachel More; Writing by Christoph Steitz; Editing by Thomas Seythal and Madeline Chambers)
