By Victoria Waldersee
BERLIN, Germany (Reuters) – Volkswagen is moving its production to China and the United States as a result of the war in Ukraine and will focus on the Asian country this year, Herbert Diess, the company’s chief executive, said on a conference call on Tuesday. fair.
The automaker suspended production in Russia after the country’s invasion of Ukraine.
“We are going to transfer more (production) to China because of the situation in Europe,” Diess said. When asked how the automaker would react if China attacked Taiwan, he said he didn’t believe the country would take such a step.
“China has a keen interest in keeping its borders open,” Diess said. “We think it is an asset for us to be strong in China… China is a stronghold for us.”
The lack of electrical harnesses typically sourced from Ukraine has been the most significant supply chain constraint to date, Diess said.
If production cannot be relocated within three to four weeks, the automaker’s prospects will need to be revised, the executive said.
(By Victoria Waldersee)
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