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VW Boss Says Inflation Would Be Worse Without China – Spiegel

He said that without the Chinese market – which accounted for 3.3 million VW sales last year, including its electric ID.4 model – inflation would explode


The German government has refused to provide investment guarantees for Volkswagen China because of human rights concerns over its operations in Xinjiang, Der Spiegel says.
The Chinese market accounted for 3.3 million Volkswagen sales last year. File photo: Reuters.

 

 

Germany underestimates how much its prosperity depends on the Chinese market, Volkswagen chief executive Herbert Diess told the German news magazine Der Spiegel.

He said that without China – which accounted for 3.3 million VW sales last year, including its electric ID.4 model – inflation would explode, and warned of dangers to the global economy from geopolitical confrontation.

Read the full report: Der Spiegel.

 

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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