¨VW will probably be bought out by a Chinese manufacturer" | VOL.at
Renowned German economist Moritz Schularick, president of the Kiel Institute for Global Economics (Kiel Institut für Weltwirschaft) warns of a severe shift in the European automotive industry. VW notably has announced planned layoffs of up to 100,000 staff largely focussed on German production, as well as 4 German plants are under review including Hannover, Zwickau, Emden and Neckarsulm. This follows from poor performance and profitability.
The VW Group's executive board has voiced concern that the current model, i.e. to produce cars in Europe for export no longer works, [perhaps also due to the one-sided trade deal with the US, noting that Audi has extensively relied on the aforementioned strategy].
Economic historian Niall Ferguson of Stanford and Moritz Schularick gave an interview to German broadsheet newspaper Süddeutsche Zeitung sharing this view.
Schularick believes it is possible that VW could be bought out by a Chinese manufacturer e.g. BYD. [VW is already in negotiations with Chinese manufacturers to build models in their factories, and to import Chinese Joint-Venture developed cars to Europe].
However he believes that Europe can catch up economically, provided the necessary investment in key sectors.
Original Link: https://www.vol.at/vw-wird-wahrscheinlich-von-einem-chinesischen-hersteller-aufgekauft/10294532