Chinese Carmaker Rejects VW's "Old" Factory as Europe's Auto Industry Retreats
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European carmakers are pulling back, while Chinese rivals push into the market. Volkswagen plans to reduce its number of factories. Chinese carmaker Xpeng is looking for a plant in Europe. A deal seemed likely.
But Elvis Cheng, Xpeng’s managing director of northeastern Europe, said there was one issue with the factory Volkswagen offered. “It’s a little bit, I would say, old,” he told the Guardian.
The comment highlights the shifting balance in the global car industry.