Volkswagen's Skoda considers withdrawing from China

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Volkswagen's Skoda considers withdrawing from China - media report

Published Dec 11, 2022 06:14AM ET Updated Dec 11, 2022 11:25AM ET

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Volkswagen's Skoda considers withdrawing from China - media report

© Reuters. FILE PHOTO: An employee wipes the bonnet of Skoda Enyaq as Skoda Auto carmaker launches production of MEB battery systems in Mlada Boleslav, Czech Republic, May 17, 2022. REUTERS/David W Cerny

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BERLIN (Reuters) - Czech carmaker Skoda Auto, part of Volkswagen (ETR:VOWG_p), is considering withdrawing from China and will make a final decision next year, CEO Klaus Zellmer was quoted as saying by the weekly magazine Automobilwoche.

"The competition is very intense there, so we will consider, together with our Chinese joint venture partner, how we want to proceed," Zellmer was quoted as saying. "If we want to focus our energy, it's worth checking all scenarios and then deciding."

The chief executive said the company could consider simply selling cars in China rather than also producing them there.

Skoda wants to focus more in India at the moment, he said.

Volkswagen said in a statement to Reuters that it was normal business procedure for Skoda to continuously be checking its position in international markets and adapt that to local developments.

"There have been no decisions so far on possible modifications in our strategy," the company said.

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Comments (2)

Peter Andersen Dec 11, 2022 2:28PM ET

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🤙🤙🤙

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Alex Malmstrom Dec 11, 2022 12:42PM ET

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India is on a roll this week, first a historic order of 500 jets by Air India and now this. Good for them!

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Volkswagen's Skoda considers withdrawing from China - media report

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