Why is Volkswagen shutting down in Germany?
The closure of the Dresden factory comes after Volkswagen experienced cash flow problems due to weak Chinese sales, declining European demand, and pressure on sales to the US from tariffs. The company needs to finance investments of approximately €160 billion ($187. With production stopping tomorrow, Volkswagen will, for the first time in its history, completely shut down a factory in Germany. The closure of the Dresden plant follows sales losses particularly in the Chinese market, stagnation in Europe, and pressure on exports stemming from US tariffs.
Who is the CEO of Volkswagen?
Oliver Ingo Blume (born 6 June 1968) is a German executive and the CEO of the Volkswagen Group, and the CEO of Porsche. VW boss Blume earns 10. WOLFSBURG (dpa-AFX) – VW and Porsche boss Oliver Blume earned more last year despite cutting his salary. Including retirement benefits and variable remuneration for several years, he received just under 10. Group’s annual report.