Volkswagens head of China to leave the country – source – Reuters

BERLIN, Nov 16 (Reuters) – The head Volkswagens (VOWG_p. DE) Chinese operations, Stephan Woellenstein, is being alleviated of his responsibilities and there are speak about discovering him a new job within the German carmaker, an individual knowledgeable about the matter informed Reuters on Tuesday.
Volkswagen has suffered a variety of setbacks in the worlds biggest auto market, from a sluggish launching for its brand-new electric cars to a slide in sales of its Passat sedan after a crash-test video went viral in the nation.
” He will leave China,” the source said, including that the exact date had not yet been determined.
German publication Automobilwoche first reported the news, saying that Woellenstein would be changed at the beginning of February next year.
There are three or 4 prospects who could replace Woellenstein and the carmaker ought to make an announcement soon, Automobilwoche said.
Volkswagen decreased to comment.
Europes biggest automaker, which owns brands consisting of Porsche, Audi, VW, Seat, Skoda, Lamborghini and Bentley, is depending on sales in China, the worlds biggest EV market, to assist fund its own pricey electrical transition.
Reporting by Jan Schwartz; Writing by Riham Alkousaa; Editing by Hans Seidenstuecker, Zuzanna Szymanska and David Clarke
Our Standards: The Thomson Reuters Trust Principles.

A Volkswagen ID.6 X is shown ahead of the Shanghai Automobile Show, in Shanghai, China April 18, 2021. REUTERS/Aly Song/File Picture

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